Bitcoin Potential MEGA Move to Re-test 69k

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TradingView-Weslad2023/12/14 13:19

By:TradingView-Weslad

Bitcoin Potential MEGA Move to Re-test 69k image 0

Bitcoin presents a significant Cup and Handle pattern, previously discussed in a livestream. The breakout beyond the Neckline marks completion of the Handle, now serving as immediate support and demand.

Our observations denote two potential Bitcoin movements, A and B:

Scenario A: Sustained support at the Handle's target zone may prompt an upward rally. Immediate resistance stands at 48k-50k.

Scenario B: Rejection from the 48k-50k resistance might initiate a correction towards the Neckline, a critical support zone around 31k.

Both scenarios remain possible, and ongoing updates will track market developments.

Thank you for your attention.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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