BTC short term outlook: Red vs Green
Red:
New retest of trendline (close to 50 EMA price) and close above 50 EMA --> long squeeze, more fear into market.
RSI retest of trendline and then move upwards.
Stoch RSI also looks more bearish, although it can turn around very quickly.
Green:
Close daily inside of triangle, turn around and retest 52k, little pull back and break it finally --> probable fast move to the 54k region.
RSI look like retest of trendline is more probable, but until we see breakout to downside bullish outcome is in play.
And one crazy scenario for the end:
13-15% drop from current price, massive long liquidation, big wick into 40-42k region. This would cause big fear, strong close under 50 EMA and end of the bull market will be main topic.
Crazy one, but who knows, this is crypto, everything is possible. 😬
Red:
New retest of trendline (close to 50 EMA price) and close above 50 EMA --> long squeeze, more fear into market.
RSI retest of trendline and then move upwards.
Stoch RSI also looks more bearish, although it can turn around very quickly.
Green:
Close daily inside of triangle, turn around and retest 52k, little pull back and break it finally --> probable fast move to the 54k region.
RSI look like retest of trendline is more probable, but until we see breakout to downside bullish outcome is in play.
And one crazy scenario for the end:
13-15% drop from current price, massive long liquidation, big wick into 40-42k region. This would cause big fear, strong close under 50 EMA and end of the bull market will be main topic.
Crazy one, but who knows, this is crypto, everything is possible. 😬