BULL OR BEAR MARKET ?
Hi traders,
There are two scenarios for bitcoin . First scenario is if btc breakout the important resistance zone with high volume then ascending triangle formation works. Then bull market can start. The second scenario is if btc breakout the important blue trendline. Then Head and shoulders formation works and bear market can start. I think bear market will start. I have two important reasons for that. First one is on weekly chart when prices go up volume decreased. The second reason is there is negative rsi divergency on weekly chart. I suggest wait until one of two scenarios happen.
There are two scenarios for bitcoin . First scenario is if btc breakout the important resistance zone with high volume then ascending triangle formation works. Then bull market can start. The second scenario is if btc breakout the important blue trendline. Then Head and shoulders formation works and bear market can start. I think bear market will start. I have two important reasons for that. First one is on weekly chart when prices go up volume decreased. The second reason is there is negative rsi divergency on weekly chart. I suggest wait until one of two scenarios happen.
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