#BTC
Scenario A: Temporary Technical Rebound (Pullback / Dead Cat Bounce)
Mechanism: Since the price has broken through the lower Bollinger Bands limit significantly, a short-term upward correction is usually expected due to profit-taking by short-sellers.
Upward Target: The price has the potential to experience a temporary rebound towards the Average Selling Price area or the nearest resistance at around 68,388 USDT to 69,886 USDT.
Note: This rebound is temporary and serves to retest the resistance area before continuing to drop again if there isn’t massive buying volume.
Scenario B: Continuation of the Downtrend (Bearish Continuation)
Mechanism: If the price fails to hold above the recent low (65,426 USDT) and selling volume remains high, the bearish structure will continue.
Downward Target: Bitcoin is at risk of seeking a new support base deeper in the next psychological area around 64,555 USDT to 63,500 USDT.
Scenario A: Temporary Technical Rebound (Pullback / Dead Cat Bounce)
Mechanism: Since the price has broken through the lower Bollinger Bands limit significantly, a short-term upward correction is usually expected due to profit-taking by short-sellers.
Upward Target: The price has the potential to experience a temporary rebound towards the Average Selling Price area or the nearest resistance at around 68,388 USDT to 69,886 USDT.
Note: This rebound is temporary and serves to retest the resistance area before continuing to drop again if there isn’t massive buying volume.
Scenario B: Continuation of the Downtrend (Bearish Continuation)
Mechanism: If the price fails to hold above the recent low (65,426 USDT) and selling volume remains high, the bearish structure will continue.
Downward Target: Bitcoin is at risk of seeking a new support base deeper in the next psychological area around 64,555 USDT to 63,500 USDT.