- Current contraction period in triangle
- Expect breakout to either up or down direction, breaks bounded between 24-30k USD based off immediate triangle contraction pattern
- A few supports and resistance lines well align with Fibonacci Retracement from last major upswing and previous lowswing
- More likely scenario move upwards due to bullish longterm, medium term, and short term uptrend
Bearish scenario:
- Very slight momentum divergence in the later up swings (likely due to the first being a strong impulse, however good to keep note of this)
- Watch Retracement Levels along fibonacci along with the 24k low, expect support along previous consolidation levels
Bullish Scenario:
- Expect to break out to near $30K
- Expect a strong resistance to $30K barrier as well as a potential correction phase between there and $20K, particularly if further momentum divergences found or breaking under long moving averages
- Expect breakout to either up or down direction, breaks bounded between 24-30k USD based off immediate triangle contraction pattern
- A few supports and resistance lines well align with Fibonacci Retracement from last major upswing and previous lowswing
- More likely scenario move upwards due to bullish longterm, medium term, and short term uptrend
Bearish scenario:
- Very slight momentum divergence in the later up swings (likely due to the first being a strong impulse, however good to keep note of this)
- Watch Retracement Levels along fibonacci along with the 24k low, expect support along previous consolidation levels
Bullish Scenario:
- Expect to break out to near $30K
- Expect a strong resistance to $30K barrier as well as a potential correction phase between there and $20K, particularly if further momentum divergences found or breaking under long moving averages