BITCOIN.
A retrace seems to be taking place with support at $38k to be tested.
Current resistance stands at $48.5k and will most likely experience multiple tests on a short-mid term basis.
Thus our current trading range sits at $ 38k - $48.5k
Our bullish scenario could see a potential cup and handle which means a test to $60k resistance, I estimate this can take a few months to unfold.
Our bearish scenario is retesting $29k support if above $38k support is broken!
PRICE TARGET: $60k
STOP LOSS : $35k
RISK: Medium-High
A retrace seems to be taking place with support at $38k to be tested.
Current resistance stands at $48.5k and will most likely experience multiple tests on a short-mid term basis.
Thus our current trading range sits at $ 38k - $48.5k
Our bullish scenario could see a potential cup and handle which means a test to $60k resistance, I estimate this can take a few months to unfold.
Our bearish scenario is retesting $29k support if above $38k support is broken!
PRICE TARGET: $60k
STOP LOSS : $35k
RISK: Medium-High