BTC is facing a key area around 15.000 – 15.200 usd level. At this point we have 2 scenarios
Scenario 1:
- BTC is unable to break resistance zone and drops back to 12.000 zone. 11.000 is a key support, if broken price could be driven to lowe support zones such as 8.000 or even 5.300-5.500. This level matches with the 1.618 extension of the previous drop from 19.700 to 11.000 usd. It is also the target for a potential H&S pattern. Ichimoku cloud still shows a bearish market.
Scenario 2:
- BTC breaks clearly 15.200 level and goes quickly to 16.000 area. This would confirm a double bottom pattern and it would face New Year at possible all time highs. More volumen would be needed for this scenario, but we cannot discard it.
Scenario 1:
- BTC is unable to break resistance zone and drops back to 12.000 zone. 11.000 is a key support, if broken price could be driven to lowe support zones such as 8.000 or even 5.300-5.500. This level matches with the 1.618 extension of the previous drop from 19.700 to 11.000 usd. It is also the target for a potential H&S pattern. Ichimoku cloud still shows a bearish market.
Scenario 2:
- BTC breaks clearly 15.200 level and goes quickly to 16.000 area. This would confirm a double bottom pattern and it would face New Year at possible all time highs. More volumen would be needed for this scenario, but we cannot discard it.
Commento:
BTC confirmed Scenario 2. Bullish scenario will be confirmed if it stays above 15000 usd. Let's wait for the Ichimoku cloud to turn bullish.