This will be my first BTC chart posted. I've been reading a lot of happy happy thoughts on BTC, and although it's logical and happy and rainbows...I don't think we've reached bottom. I'd LOVE to say we have, but here's why i think we haven't.
1) In the monthly descending, we can see a very clear bearish divergence in play
2) EMA annual shows a cloud that may be tough to breach considering it's history following the EMA at 12 months.
3) We can make out the potential of a WXYXZ pattern breaking down in the monthly. The weekly already played this pattern out in full I believe, but the monthly one could argue is currently about to form X, making Z a formation somewhere in the May, June, July range.
4) I don't feel the blood. I don't feel like the streets have turned red enough. My bottom: $1300-$2400 range, and in no way do I think it couldn't go lower still.
I'm sure this won't be received all that well by some as the sentiment of positivity is just finally taking hold, BUT here we are.
1) In the monthly descending, we can see a very clear bearish divergence in play
2) EMA annual shows a cloud that may be tough to breach considering it's history following the EMA at 12 months.
3) We can make out the potential of a WXYXZ pattern breaking down in the monthly. The weekly already played this pattern out in full I believe, but the monthly one could argue is currently about to form X, making Z a formation somewhere in the May, June, July range.
4) I don't feel the blood. I don't feel like the streets have turned red enough. My bottom: $1300-$2400 range, and in no way do I think it couldn't go lower still.
I'm sure this won't be received all that well by some as the sentiment of positivity is just finally taking hold, BUT here we are.