Two Scenarios for BTC
Be careful. We might have reached a bottom when we hit 6k. But we are not out of the oven yet. And because of this: I think that BTC has to reach target 2 at least before we can think about a new uptrend.
It is too soon right now to be 100% bullish . After we hit target 1 we will probably retrace to the red support area . But regardless of when that happens, if we get back to the support area it will have to hold. If it doesn't I'll be bearish again and we might see another big drop. Possibly even lower than our last bottom.
Stay vigilant and keep watching the important levels.
Be careful. We might have reached a bottom when we hit 6k. But we are not out of the oven yet. And because of this: I think that BTC has to reach target 2 at least before we can think about a new uptrend.
It is too soon right now to be 100% bullish . After we hit target 1 we will probably retrace to the red support area . But regardless of when that happens, if we get back to the support area it will have to hold. If it doesn't I'll be bearish again and we might see another big drop. Possibly even lower than our last bottom.
Stay vigilant and keep watching the important levels.
