BTCUSDT ! Two scenarios regarding channel resistance 🤠

20 Jul 2022

BITCOIN is trying to break through the downward channel. On the chart we can see that the price went beyond the resistance boundaries of the trend resistance line. In fact, I see two scenarios: the primary one is a false breakout of the downtrend channel resistance and the subsequent price decrease along the trend to the liquidity zone. The secondary one is if the price breaks out of the range, breaks the downtrend and is able to consolidate above the level of 24200, then there is a chance to grow up to 28600.

I assume that the price is in an important zone, where the struggle of the participants will take place. In the set-up on the left of the chart I have marked how the price is moving in a channel, now we see resistance testing. Since the trend is downtrending, for the most part I am expecting a fall. The medium-term target is the support of the 18000 range.

Sincerely R. Linda!

21 Jul 2022

Nota

Comment: Falsebreakout. Sales scenario in work. Potential by +30%