Hello and let's start with a more detailed analysis.
First of all, if BTC does not break above the yellow line, the resistance it must surpass these days, a new bottom is possible to form at the target stated on the chart (yellow arrows).
If it does break and consolidate above it, we may see a rally to the resistence zone between 10100 and 10700. If it does not hold or break it, a downfall to the last weeks bottom or to the 4000's may (blue arrows) form as this is still a bear market. Good news, this will end the accumulation phase and thus, BTC will rally up again (red arrows).
Keep in mind that this is a volatile market and a little bit of negative media pressure FUD or that a possible Valentine's Day Massacre may occur, especially in conjunction with the Chinese New Year this weekend.
The trend is always your friend, that's if you resonate with it.
Buckle up, it's going to be a helluva week!
First of all, if BTC does not break above the yellow line, the resistance it must surpass these days, a new bottom is possible to form at the target stated on the chart (yellow arrows).
If it does break and consolidate above it, we may see a rally to the resistence zone between 10100 and 10700. If it does not hold or break it, a downfall to the last weeks bottom or to the 4000's may (blue arrows) form as this is still a bear market. Good news, this will end the accumulation phase and thus, BTC will rally up again (red arrows).
Keep in mind that this is a volatile market and a little bit of negative media pressure FUD or that a possible Valentine's Day Massacre may occur, especially in conjunction with the Chinese New Year this weekend.
The trend is always your friend, that's if you resonate with it.
Buckle up, it's going to be a helluva week!
Shall it test the 9500 resistance now, break it or test the support that was the resistance for some days...