BTCUSDT
Here is another chart which is telling that btc could possible go below 20k again. bearish btc is forming bearish pennant. which could further decline the price back to below 20k or possibly 16k.
do not take any trade before the breakout. the chart is actually upside down in order to make sense. we shouldn't ignore the technical analysis. because there is no way that we already bottom out. we should always look at the picture in different angle to calculate the risk reward.
the second scenario is we will hit 30k first and then back to 13-14k for the next big run..
according to Elliot wave we are on the 5th wave.
disclaimer: do not trade in the future with leverage cryptocurrency is so volatile.
Comment:
we have break out from the pennant as expected. so the 29k target is almost invalidated and now we could head back to 13-14k. if we break below 20k then btc is ready to retest old price.
Comment:
We have successfully reached our target. look like we have completed the wave 5.. now get ready for abc correction which will take us to 24k if cpi data comes in favor and ftx issue sorts out.. only buy in spot