$BTC
Scenario 1: Bullish Continuation

The most likely scenario, given the current indicators, is that the upward trend continues.


Next Resistance: The price will likely test the previous high visible on the far left of the chart, around the 110367.2 level. This is a natural psychological and technical target.
Momentum: Look for continued strong green candles with solid volume. The price should stay comfortably above the yellow 34-period EMA, using it as a dynamic support line.

Scenario 2: Pullback and Consolidation

After a strong upward move, a short-term pullback or a period of sideways consolidation is healthy and common before the next leg up.


Key Support Levels: If the price pulls back, the first line of defense would be the 34-period EMA (yellow line, currently around 108135.3).
Secondary Support: If the 34 EMA doesn't hold, the next support level would be the 89-period EMA (pink line). As long as the price remains above these moving averages, the bullish structure is considered intact.
What to Watch: A bounce off one of these EMA lines, confirmed by a bullish candlestick pattern (like a hammer or bullish engulfing candle), would be a strong signal that the uptrend is likely to resume.

Scenario 3: Bearish Reversal (Less Likely)

While less likely given the current chart, a reversal is always possible.


Warning Sign: The first sign of weakness would be a sustained break below the 34-period EMA (yellow line).
Confirmation of Reversal: A more definitive sign of a trend reversal would be the price breaking below all three moving averages, particularly the 200-period EMA (purple line, currently 106920.4). This would invalidate the current bullish setup.
Volume: A reversal would likely be accompanied by a significant increase in selling volume (large red bars).

Summary of What to Watch Next:


Interaction with the 34 EMA: Does the price stay above it, or does it test it as support? This is your most immediate and important indicator.
Test of Previous High: Watch the price action as it approaches the 110367.2 resistance level. A strong break above it would be very bullish. A rejection from this level could trigger the pullback scenario.
Volume: Continue to monitor volume. Strong volume on up-moves and light volume on pullbacks confirms the bullish trend.

In short, the immediate outlook is positive, but watch for a potential healthy pullback to the moving averages before a possible continuation towards the prior highs.