This is an update to earlier chart of the day. The pullback may be a bit more severe than thought... as embedded pattern has been seen.
This means a possible larger pattern has now been formed over the earlier smaller pattern- resulting in more dramatic fall before a bounce. However I am including possible failure points in this as well... if BTC fails the high will have ben 42k. If Bullish we go higher with targets as shown.
Personally I am still bullish, but look for a deeper pullback than previously listed- and keep eye on failure points. Green is Bullish trend - Red is Bearish trend .. the trend will be based off bounce points. Ideal Buy area is in purple.
I imagine the time frame on this would be through the weekend- this will be grueling slow to play out.
Lets see what develops!
This means a possible larger pattern has now been formed over the earlier smaller pattern- resulting in more dramatic fall before a bounce. However I am including possible failure points in this as well... if BTC fails the high will have ben 42k. If Bullish we go higher with targets as shown.
Personally I am still bullish, but look for a deeper pullback than previously listed- and keep eye on failure points. Green is Bullish trend - Red is Bearish trend .. the trend will be based off bounce points. Ideal Buy area is in purple.
I imagine the time frame on this would be through the weekend- this will be grueling slow to play out.
Lets see what develops!
Comment:
As price approaches purple box will review thsi again!
Comment:
40800 is the hard break resistance downward vs 41400 shown above. had my resistance a bit higher than should have been. This leg look to take buys at the bottom.. near 37000 - 37,200
Moorsc0de aka Crypt0nomics aka Zaphkiel
