$BTC UPDATE VIP: Weekly Chart
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We’re getting close to our weekly close, less than 48 hours left) and price has still not defined a mid term direction with a solid breakout after breaking above our multi-month $30,000 - $40,000 range.
After reaching $50,000 price has halted and dropped to a short/mid term low of $46,000 which has been held up strongly by the bulls. If we manage to close with a green candle (even a tiny one) we’re very likely heading above $50,000 in the following 7 days.
If $50,000 is once again retested and rejected, we would confirm the worst mid term scenario and we would remain under the bear’s control at least for the time being, which would push price much lower, potentially retesting $44,000 or even $42,500 before a bounce.
Key Resistance (Breakout Confirmation): $50,316Key Support (Breakdown Confirmation: $41,297.5What can we expect for now? Our VIPs know where probability is leaning and our next move…
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Fed. Russian Insiders
