#Bitcoin price forecast update:
The rejection of #BTC below $118,000 and the failure to hold key levels on the downside, shifts the momentum back to the bear count (path 1).
The probability weighting for path 1 (bear scenario) is now 45% (up from 30%). Path 2 (bull scenario) now weights at 30% (down from 45%) probability of playing out.
#Trading #Tradestr
#Bitcoin price forecast update:
I don’t have much changes to make to the two paths described below other than increasing the weighting for path 2 to 45% (from 35%) and decreasing the weighting for path 1 to 30% (from 45%). So far the bulls have successfully defended the $105,580 level and based on lower time frame price action the odds for this level to remain untouched has increased. The invalidation for the path 1 remains $125,759 although breaching $118,680 would significantly decrease the odds of seeing path 1 playing out. Path 2 will likely see a longer consolidation phase between $107,000 and $125,000 that shown on the latest chart screenshot.
#BTC #Trading #Tradestr
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