Hello all Crytponinians, after a couple of days of downtrending that began the 4th April, BTC
is in a consolidation channel around $6800. Yesterday daily closed with a weak or neutral doji
which means indecisiveness. The EW count is not clear whether we have exhausted the wave 2(blue) down in 5 subwaves or we have the beginning of Wave 3. Due to the lack of volume
and movement I would suggest it is still in final 5th subwave of the Wave 2 down. This is valid as long as BTC
stays above $6400. A move above $7200 would confirm Wave 3 formation as shown. The other noticeable play which adds credibility to my EW count is the descending wedge
forming on the 1hr, 2 hr
and 4hr . Look for a strong breakout above the wedge
for confirmation of an impulse wave. I am still long for now as i have not seen the strong confirmations of impending doom. Thank you for taking your time to read analysis. Asd
always happy to receive constructive criticism or alternative views.
Please like if you agree and you can follow me on https://twitter.com/BallerBitcoin
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