Hey there, crypto enthusiasts! Let's dive into some technical analysis, but remember, the economy's a fickle beast, so take this with a grain of caution. Here are the two long-term scenarios we're keeping an eye on.
🔴 Bearish Scenario: The red vertical line signals the bearish path. It's currently in favor since we've stepped out of the bullish channel. The technical target hovers around $15,300. To confirm this, BTC needs to be above $21k, which, as you can see, we're still a bit far from.
🟢 Bullish Scenario: The green vertical line is the bullish route. To validate this, we need to hop back into the bullish channel and rocket upwards. Confirmation arrives with Bitcoin soaring above $37k, aiming for the ATH (All-Time High).
By December at the latest, one of these scenarios will take the lead. I'm letting you in on this so you can keep tabs on the market's trajectory.
Here's a tip: Until one of these moves gets the green light, consider holding off on heavy trading. 📉📈
Which scenario seems more plausible to you? Let's chat it out! 🤔🚀
