#BITCOIN / TWO SCENARIOS FOR THE NEXT MOVE!!
📈📉BITCOIN Analysis / ⏳15-Minute Timeframe
👉Based on the previous analysis, BITCOIN has reached the high of the 4-hour timeframe channel. At the channel high, an rising wedge pattern has formed on the 1-hour timeframe.
👉Considering that the overall market trend is currently bullish, two scenarios can be considered for the next short-term movement:
✅Scenario 1: Temporary Drop Before Growth:
If the bullish channel on the 15-minute timeframe breaks down (see the figure) and closes below the price of 59669.85, BITCOIN will enter a temporary bearish phase and may reach the following targets:
Target 1: 59324.58
Target 2: 58950.60
Target 3: 58411.22
Note: Target 3, based on the higher timeframe perspective (previous analysis), could be the maximum drop before the bullish trend resumes.
✅Scenario 2: Continued Growth from Here
If the bearish condition is not met and instead, BITCOIN grows and breaks the resistance of 60284.99, it can continue its growth in the form of an ascending triangle towards the main targets (see previous analysis).
👉Based on the previous analysis, BITCOIN has reached the high of the 4-hour timeframe channel. At the channel high, an rising wedge pattern has formed on the 1-hour timeframe.
👉Considering that the overall market trend is currently bullish, two scenarios can be considered for the next short-term movement:
✅Scenario 1: Temporary Drop Before Growth:
If the bullish channel on the 15-minute timeframe breaks down (see the figure) and closes below the price of 59669.85, BITCOIN will enter a temporary bearish phase and may reach the following targets:
Target 1: 59324.58
Target 2: 58950.60
Target 3: 58411.22
Note: Target 3, based on the higher timeframe perspective (previous analysis), could be the maximum drop before the bullish trend resumes.
✅Scenario 2: Continued Growth from Here
If the bearish condition is not met and instead, BITCOIN grows and breaks the resistance of 60284.99, it can continue its growth in the form of an ascending triangle towards the main targets (see previous analysis).
Note
🔄#BITCOIN analysis update - August 19
⏳Based on the 15m time-frame:
Hey everyone!
Just like I said, BITCOIN's bear trend was confirmed and it started dropping.
It hit the exact target that I predicted.
Did you make money off this clear analysis?!
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