BTC / USDT: bullish or bearish? For BITMEX: XBTUSD by Helical_Trades

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BITMEX: XBTUSD
Hello everyone

As you can see #BTC just formed an S / R line which can be a potential line for #BTC to bounce above 50K and test 51K and 55K!

But there is also a chance of being rejected above resistance and plunging below 44K support.

There will therefore be several scenarios to discuss:

1️⃣ Bounce of the S / R line:

Scenario 1 will play as an extreme bullish chart, which will drive #BTC above 50K to retest the level of 55K or above.
If the next 3 daily candles closed above this line, it means the market maker is looking for an 8H rebound above the 50K resistance.
However, there will always be a chance for a possible halt to the hunt below this line and the FIB level to take more advantage of the liquidity of the stock market!

2️⃣ Discharges below S / R and rebound from the principal support area :

The 2nd possible scenario will be a rejection below S / R level and a dive below 47K level to retest the main support here which is ~ 44K.
There is a chance for #BTC to form a H&S reversed with a scythe bullish Free drive (Currently in formation), which will quickly turn weak hands into bearish phase and refuses to follow the trail on three in the car
It is more difficult to trace all the possible paths but, it is the most possible direction after a retest on the 44K zone; There will also be more chances that #BTC will retest ATH after the retracement.
There will be more bids above 51K after a logical correction to profit above.
So there will be two scenarios above:

– Rejects to bounce more and dive from ~ 56K resistance zone !

– Gobble up $ 58,150 for additional growth and retest ATH or even break it!

3️⃣ Rejects below the 50% FIB level and becomes bearish again :

instantaneous

The last possible scenario will turn in favor of the bears, if #BTC refuses to bounce back after retesting on 44K then there will be a chance it will dive below MA200 (LOW source) and the 50% level of FIB.
I should mention that the EQ line is higher on other exchanges; This is why we use the BITMex graph, it has more quality to analyze on lines and points!
There is a daily triple divergence that lasts at least 17% on the scale, this may be a reason to retest the 37K level after activation …

These are my directions for #BTC and all of them have a custom trigger, so it won’t be difficult to manage the risks ahead!

How do I play this?

-> Above equalizer in red and recent S / R flip: Expect the next range level to be marked: 51.5k.

If we keep pushing, the next target after that is 56k.

-> Losing recent S / R flip = warning sign.

Lose the EQ (red) and I think we start a bigger correction.

🔴 The levels I mentioned are extremely important!

Try to mention them in your graphics …

Hope you enjoyed our analysis on the possible directions of BTC🙌

You can support us with your tastes.

You can also share your opinion with us in the comments ️

Warning: this is not financial advice, we are just trying to help people with their own vision.

Have a nice day!
@Helical_Trades

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