BTC consolidation or breakout ?
BTC / USDT
I think 2 possioble scenarios for now
1- Drop to 37K to fill the CME gap and some consolidation around this area before go up
2- Direct breakout of strong resistance (200MA D) around 42k5
(bulls need to close by daily candle above this moving average to gain more momentum)
if bulls success in clear out the strong resistance and close above we will look for bullish movements toward 44k - 46k - 48K++ and test major trend resistance (Violet)
Back in late January and early feb the price Consolidate first before going up
Do you think history will repeat itself again ?
best of luck
I think 2 possioble scenarios for now
1- Drop to 37K to fill the CME gap and some consolidation around this area before go up
2- Direct breakout of strong resistance (200MA D) around 42k5
(bulls need to close by daily candle above this moving average to gain more momentum)
if bulls success in clear out the strong resistance and close above we will look for bullish movements toward 44k - 46k - 48K++ and test major trend resistance (Violet)
Back in late January and early feb the price Consolidate first before going up
Do you think history will repeat itself again ?
best of luck
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