Bullish scenario:
• We need a continuation of the current positive consolidation.
• After that, we need a break above the MA50 and $ 3050 price.
• Then we get the support of all moving averages, and we can expect a further continuation to the previous high at $ 3,200.
• If the bullish impulse continues, our next target is the $ 3400 level, the last time we were there was on January 13th.
• The price break above climbs us to resistance at $ 3600, and here we are close to this year’s high at $ 3800 from January 4th.
Bearish scenario:
• We need negative consolidation and a price withdrawal below $ 2,800 and the MA200 moving average.
• Breaking prices below this support would increase bearish pressure.
• Our first lower support is the February minimum at the $ 2570 level.
• And if he doesn’t make it, we can expect a further drop to $ 2,500, then support to $ 2,400.
• Our maximum short-term pullback is up to potential support up to $ 2,200.