BTC/USD - Stuck between two possibilities... 🧐

The excitement from Tuesday has faded when BTC passed $49k. Price was rejected by this large resistance which appears to form a head in a H&S structure.

The H&S is not confirmed and remains a possibility only. For this reason I see two key plays on BTC chart right now as indicated by the yellow arrows.

1) BTC breaks above $49k and rallies to $54k resistance

or

2) Downtrend continues and we bounce on $40k

Both scenarios have similar odds in my eyes right now. I think we will know which one is going to take place before the end of the week.

I'd be surprised if BTC just goes sideways, but this is a third possibility if volume is low over Christmas holidays.

BTW... enjoy the winter holidays and don't be stuck on a chart... it's not the time to trade as volume shows.

Merry X-Mas everyone and thanks for being with me this year! 2022 will surely be very exciting! :)

Stay tuned!

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