BITCOIN is trading at 42600 at the time of writing. Now, what could be the possible scenarios? Let's discuss some points regarding the upcoming session movement.
Price is flirting with 100 MA as it does recently but failed to cross this hurdle, If bulls cross this they can target 46000 level which will be a real test for them as there is 0.38 Fib level Resistance lies.
Historically price got tough time there when the price dropped from its ATH, Once bulls cleared that area there was a significant rally and the price printed a new ATH.
Last but not least price already dropped exactly the same as previously it did, and now bouncing back. And the same number of days of consolidation is being done.
So we are expecting the Bulls can reach anytime soon and BUY on DIPS will be a perfect strategy for the upcoming session.
Price is flirting with 100 MA as it does recently but failed to cross this hurdle, If bulls cross this they can target 46000 level which will be a real test for them as there is 0.38 Fib level Resistance lies.
Historically price got tough time there when the price dropped from its ATH, Once bulls cleared that area there was a significant rally and the price printed a new ATH.
Last but not least price already dropped exactly the same as previously it did, and now bouncing back. And the same number of days of consolidation is being done.
So we are expecting the Bulls can reach anytime soon and BUY on DIPS will be a perfect strategy for the upcoming session.
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