Bitcoin – Two Scenarios – Range and Bear Trend Resumption (LL)
Bear Spike/Climax then bear trend contained in Channel. Lower Highs and Lower Lows.
If price breaks above the Bear , I am expecting it to transform into a Range.
11830 is having good context to become the range high as the Present Weekly High is at 11826, Previous Resistance and Measured Move Targets.
On , Bear Breakout is very recent and comparatively small, It is likely to aim for formation at 11830.
If price reverses from Bear then bears will be trying for Lower Low. Strong Bear Breakout is likely to initiate the Failure of any Bull Breakout above Bear . I think breaking below 11382 will start to make things clear for the Bear Trend.
Explaining the overall scenario always helps in decision making and taking trades at the crucial level.