Bitcoin – two only possible scenarios!

08.06.2022 11:47 pm

Hello, everyone!

Today I want to make (almost) 100% forecast. I am absolutely sure that one of these scenarios is going to plays out. I know that all of you tired of the current sideways. I am tired too to talk everyday about the long trades, that market will show us the bounce.

Pink scenario

Let’s take a look at the BTC chart of the MEXC exchange. This is my basic scenario, in my opinion the most probable. The price slightly broke through to the upside the countertrend line. I am still not sure that this breakout is valid, but on the RSI we have already seen this breakout 2 weeks ago. If we will se the pump from the current price the bull trap will be formed very soon at our last target $35k approximately. After we will see the dump lower than $25k. The scenario invalidation is the trendline 2 breakdown.

Red scenario

To be honest I like this scenario even more just because here we will see the very strong buy signal, but I have already bought Bitcoin at $29k and don’t want to see the drawdown. If the trendline2 will be broken we will 100% see the lower low than $26k. Here we also have the Monthly S1 level which is very strong support. Also right here the bullish divergence will be formed at the RSI. In this case I expect the trendline test at $40k because in this case it is needed more price pump to form the bull trap with the greed state on the market.

In both scenarios $32.5k is the very strong resistance because this is the central pivot range for June. Watch out this level also.

Good luck!

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