BTC BULL RUN BACK ON?
BITCOIN.
A retrace seems to be taking place with support at 38k to be tested.
Current resistance stands at 48.5k and will most likely experience multiple tests on a short-mid term basis.
Thus our current trading range sits at $ 38k - 48.5k
Our bullish scenario could see a potential cup and handle which means a test to 60k resistance, I estimate this can take a few months to unfold.
Our bearish scenario is retesting
29K support if above 38k support is broken!
PRICE TARGET: 60k
STOP LOSS : 35k
RISK: Medium-High
A retrace seems to be taking place with support at 38k to be tested.
Current resistance stands at 48.5k and will most likely experience multiple tests on a short-mid term basis.
Thus our current trading range sits at $ 38k - 48.5k
Our bullish scenario could see a potential cup and handle which means a test to 60k resistance, I estimate this can take a few months to unfold.
Our bearish scenario is retesting
29K support if above 38k support is broken! PRICE TARGET: 60k
STOP LOSS : 35k
RISK: Medium-High
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