Bearish Scenario

26 Mei

When we look closely at the midline of the channel, it becomes obvious that price is struggling very hard to break above it and it’s a reasonable to take the bearish case into consideration. It will be a bit dangerous the closer we get to the support around 65k. A close above the midline and a successful retest of the midline is gonna convince me that we will not go back to the bottom of the channel. But so far price action is supporting a move to the bottom of the channel according to this scenario. A few green candles can change the entire scenario.