In the bigger picture, we can see a perfect Elliot waves count, we have a perfect (i-v) impulse, after that we have an a-b-c correction, that seems to be ending.
With this correction, the price made a massive descending wedge, it did not play that well, but the break down could be a false one. Moreover, a few months ago it started formed an descending channel the could be the key of an upside break and the starting of the third (III) wave.
The target of third wave is in the green box, of course this is in long term.
In the short term this could play very bad, with btc being so unstable, we could have a bigger drop, but in the long term this setup is bull quite bull.
If you are not familiar with Band protocol: "Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts". This is basically the fuel of smart contracts.
With this correction, the price made a massive descending wedge, it did not play that well, but the break down could be a false one. Moreover, a few months ago it started formed an descending channel the could be the key of an upside break and the starting of the third (III) wave.
The target of third wave is in the green box, of course this is in long term.
In the short term this could play very bad, with btc being so unstable, we could have a bigger drop, but in the long term this setup is bull quite bull.
If you are not familiar with Band protocol: "Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts". This is basically the fuel of smart contracts.
Comment:
In the day frame, we have a parabolic scenario, which can be the key of the break up of the channel.