BITCOIN (BTCUSD) – Week 50 - In consolidation
Hello traders,
This week Bitcoin is in a consolidation phase that has 2 possible scenarios. The higher probability scenario in our opinion is a move that will reach the blue trendline marked on the chart and then retest the support area at 42k. However if the price breaks the resistance area marked on the chart and consolidates above then we may look for the start of a bullish wave.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
This week Bitcoin is in a consolidation phase that has 2 possible scenarios. The higher probability scenario in our opinion is a move that will reach the blue trendline marked on the chart and then retest the support area at 42k. However if the price breaks the resistance area marked on the chart and consolidates above then we may look for the start of a bullish wave.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
