Hello,
Btc did not manage to do a higher high, and what had to happen unfortunately happened for this dear Crypto monolith, it is diving.
Today it broke its local line support (blue). It suggests Btc will keep on diving.
EMAs crossing on 8 March was predicting this fall.
EMAs are pointing to the down direction, which is a negative signal.
But we will have some chances to buy during incoming local bounces.
Where will they be? 8k area? 6.5k area? 5.8k area?
Btc is extremely likely heading to test its line of life (green), if it fails to hold this line, it will be a test of the 5.800$ to potentially double bottom there.
If the double bottom finishes to fail after the produced bounce (after a week of bounce, two weeks of bounce, etc), and Btc goes back close to the 5.800$ again, then the capitulation sell-off will most likely occur, and Btc will head towards its sell-off target (blue).
Of course i could be wrong, as i don't know the incoming news, wether positive or negative they will be.
But this TA is representing the overall average moves Btc could follow during the process of its Bursting Bubble pattern.
Good luck, stay safe, and thank you for all your positive and negative messages, i like both of them a lot as i think encouragements and critics are both needed to learn more. And i love to learn.
Btc did not manage to do a higher high, and what had to happen unfortunately happened for this dear Crypto monolith, it is diving.
Today it broke its local line support (blue). It suggests Btc will keep on diving.
EMAs crossing on 8 March was predicting this fall.
EMAs are pointing to the down direction, which is a negative signal.
But we will have some chances to buy during incoming local bounces.
Where will they be? 8k area? 6.5k area? 5.8k area?
Btc is extremely likely heading to test its line of life (green), if it fails to hold this line, it will be a test of the 5.800$ to potentially double bottom there.
If the double bottom finishes to fail after the produced bounce (after a week of bounce, two weeks of bounce, etc), and Btc goes back close to the 5.800$ again, then the capitulation sell-off will most likely occur, and Btc will head towards its sell-off target (blue).
Of course i could be wrong, as i don't know the incoming news, wether positive or negative they will be.
But this TA is representing the overall average moves Btc could follow during the process of its Bursting Bubble pattern.
Good luck, stay safe, and thank you for all your positive and negative messages, i like both of them a lot as i think encouragements and critics are both needed to learn more. And i love to learn.
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