Hi all,
I have been trying to find a scenario that would answer to the question spinning in my head. Let me explain it.
BTC lost the "Weekly trendline 1" and I suppose that the prices need to touch the next lower one, the "Weekly Trendline 0", at some time. This has not happened yet. My question is "how and when"?
I'm still thinking that we are in accumulation phase (with a certain probability) as with my Wyckoff analyses. Following these analyes, the next event to realize is that BTC needs to retest the upper resistance, around $23000.
By linking these thoughts, I use "Shark" harmonic pattern to simulate a possible scenario, as you can see in chart.
I admit that in short-term this is a bullish scenario. As always, we should prepare for a bearish one (like what happened in the end of 2018) for which I'll do a further analysis.
Have a nice sunday!
Comment:
Here below is the view in 1W TF that explain my trendlines' theory. Up to now, every time that BTC loses a trendline, it goes to see the lower one.
