After breaking out of the Bearish pattern (which can be seen in my previous chart), BTC is back for another important call. The pump caused by Elon Musk was shorted heavily from 38k, resulting in touching the bearish trend line, this time as support.
Now Bitcoin is back for two possible options:
1. The bearish trend breach needs to be confirmed in order to form a new bullish pattern. 2. BTC can dive back into the bearish trend because of the (HYPED) pump, resulting in touching the higher bearish trend line again for going back to the Main support area. (Without the Elon Pump we would still be in the bearish trend)
Let me know which situation you think is more likely in the comments. Also, feedback would be very Helpful!
Thank you
-SR7-Tradings
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Currently Btc is going sideways (33.5-44.5)
Commentaire
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Perfect bounce on the yellow (now support) Line as predicted. :) Will it bounce again?