Quick Analysis of Bitcoin on the Daily Frame
We see Bitcoin after reaching 123000 bounced back, which is normal, but what are the possible scenarios??
They are as follows:
1- That there is no correction and it is just a slight bounce and the price rises, which is a weak possibility as it has formed a swing high and a peak but is not confirmed.
2- That the price bounces back and breaks the inducement, forming a real peak, and corrects down to the order block or the previous area, giving us two entry prices as shown in the image, and the price bounces back and breaks the peak of 123000, and we see a new peak is very likely.
3- That the price drops and breaks the last peak, leading to a change in direction and we see another drop.
All possibilities are valid, share your thoughts on what the closest possibility is and are you ready to enter the trade if the price reverses from the order block??
