Lets see, surely looks like btc will go below 4k very soon to me!
Comment:
It can push through resistance by next week as the cloud is thinning out, but it will correct for now imo. but lets see...
Comment:
Clean move to the downside, expecting some support to fill in before we move further down.
What we can see here is that BTC is preparing for a HUGE move in either direction, loosely based of the current trendlines
Target upside: 5000
Target downside: 3000
A fast break and bounce from the rising trendline can give us clue if a emerging head and shoulders pattern
Somehow i see us filling out the blanks in this pattern, the bullish scenario would maybe look something like this
The bullish divergence we have seen looks to have been played out on the smaller timeframe (4H)
RSI is still oversold on most time frames, macd is turning a bit more bearish again.
I'm expecting a swift move to the downside that will be engulfed by a solid bullish candle.
My guess is that 80% of the correction is completed.
Bakkt and Fidelity will put the pressure back in bulls favor by the end of this year.
What we can see here is that BTC is preparing for a HUGE move in either direction, loosely based of the current trendlines
Target upside: 5000
Target downside: 3000
A fast break and bounce from the rising trendline can give us clue if a emerging head and shoulders pattern
Somehow i see us filling out the blanks in this pattern, the bullish scenario would maybe look something like this
The bullish divergence we have seen looks to have been played out on the smaller timeframe (4H)
RSI is still oversold on most time frames, macd is turning a bit more bearish again.
I'm expecting a swift move to the downside that will be engulfed by a solid bullish candle.
My guess is that 80% of the correction is completed.
Bakkt and Fidelity will put the pressure back in bulls favor by the end of this year.
Comment:
And oh, if we hit lows of 3k and bulls fail, this is gonna be dirty.
However not taking a long around 3k range would be a mistake.
When we move up, we will make a easy 1000$ move in 1 day, perhaps more.
However not taking a long around 3k range would be a mistake.
When we move up, we will make a easy 1000$ move in 1 day, perhaps more.
Trade closed: target reached