BTCUSD 1W What's next: apocalypse or new growth wave?

8 mai 2022

Next week in the cryptocurrency market promises to be very interesting and fateful
The price of BTCUSDT has approached the liquid price range of $31,000-34,000, which has been a strong support zone for buyers for more than 1.5 years.

What's next? :
1) Apocalypse in the cryptocurrency market - If sellers manage to sell and fix the price of BTC below this liquidity zone, the "Head and Shoulders" pattern is fully activated. Below 31K are a lot of levels where hidden stop orders of longs. If they break and the market will start falling mercilessly, something like March 2020 (if anyone remembers these painful feelings).
The first fall goal is to close GAP $23800-26500, which has not been filled since December 2020 (the market remembers everything ..). Even lower - this is $20-21 thousand - growth peaks in 2017.
2) A new wave of growth - In 12 hours, a new weekly candle will open. It is possible that with its opening, sellers will try to bring down the price of BTCUSD and break stops below $32,900, but buyers must act aggressively and redeem any attempts to fall.
If buyers show themselves with dignity, courage and aggression, like real warriors, then the opportunity for a new wave of growth will open up. This has already happened a few times in the history of BTCUSDT bidding.
On the graph, we have shown a possible growth projection for the next 7-8 weeks in the area of ​​53,000 for Bitcoin.

Which scenario is closer to your heart?, share your thoughts in the comments
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