BTC has been very fun to scalp in this flag pattern over the last few weeks. But we are getting really close to a moment of make or break.
I like to keep my technical analysis really simple, using basic techniques such as price action, trend-lines, and zones of support and resistance (S&R).
As the analysis clearly illustrates, we can see a 50/50 scenario here. A break and strong close above the top resistance, and breaching the bullish flag, will most likely bring BTC close to the $30k price range. On the opposite side, if we break below our support and fall under the long-term trend-line, then the price of BTC will likely drop close to the $22k range.
The next week or two will be fundamental for what's to come in the next few months for cryptocurrency.
Please note that the advice you receive about cryptocurrency should always be taken as guidance and not as definitive instructions on what to do. Investing in cryptocurrency, like any other type of investment, involves risks, including the loss of capital. Always conduct your own research and consult with a financial advisor before making investment decisions.
I like to keep my technical analysis really simple, using basic techniques such as price action, trend-lines, and zones of support and resistance (S&R).
As the analysis clearly illustrates, we can see a 50/50 scenario here. A break and strong close above the top resistance, and breaching the bullish flag, will most likely bring BTC close to the $30k price range. On the opposite side, if we break below our support and fall under the long-term trend-line, then the price of BTC will likely drop close to the $22k range.
The next week or two will be fundamental for what's to come in the next few months for cryptocurrency.
Please note that the advice you receive about cryptocurrency should always be taken as guidance and not as definitive instructions on what to do. Investing in cryptocurrency, like any other type of investment, involves risks, including the loss of capital. Always conduct your own research and consult with a financial advisor before making investment decisions.
Luca Sepe