Bitcoin is now between support S1 and resistance R1.
Bullish:
If it breaks through R1 the next resistance would be at all-time high.
If it breaks below S1 the next support would be at:
Bearish:
If it breaks below 0.323 the next support would be at:
My first guess is that Bitcoin breaks below S1 finds support at 0.618 or 0.5 and continues between S1 and S2 through R1.
My second guess would be that it breaks through R1 and continues above S1 to a new all-time high.
The resistance at all-time high will be very strong though and I think Bitcoin is not ready for a new all-time high this year.
Time will tell.
Bullish:
If it breaks through R1 the next resistance would be at all-time high.
If it breaks below S1 the next support would be at:
- 0.618
- 0.5
- S2
- 0.323
Bearish:
If it breaks below 0.323 the next support would be at:
- 0.177
- 0
- S3
My first guess is that Bitcoin breaks below S1 finds support at 0.618 or 0.5 and continues between S1 and S2 through R1.
My second guess would be that it breaks through R1 and continues above S1 to a new all-time high.
The resistance at all-time high will be very strong though and I think Bitcoin is not ready for a new all-time high this year.
Time will tell.