Btc daily time frame case study 3 Elliot wave pattern final wavs
IF MY ANALYSIS HAS HELPED YOU IN ANY WAY A LIKE OR COMMENT WILL BE APPRECIATED
OK so there is not much to say right now but
We are at a key level for bulls 33480 has been broken with no effort it looks like bulls have given up on the rally.
THE candles seem to indicate zig zag patterns as the bulls are trying to defend the 30 000 level.
If we see a rally here back above 34480 we could see higher levels
The adx is still very bearish on the daily
And the rsi is below 30
Strong bearish signals
Candles seem to indicate that the bearish move is loosing Steam
We have to check first if this is not the last stand creating this illusion of bullish strenght.
THE wave pattern is confirming some more downswing
And we are currently below the ichimoku cloud on the daily
The weekly still shows strong signs of bullishness
We could see another week of downswing before the next rally.
It seems like all major players have left the market even if they say they still have some coins
So my speculation is the lowest level will give the best rewards
WAIT PATIENTLY AND LOOK CLOSE TO SUPPORT BETWEEN 30 000 AND 20 000
COULD BE SOMEWHERE IN THE MIDDLE FOR A RALLY.
LOOK AT PERIVIOUS ANALYSIS FOR MORE INFO
OK so there is not much to say right now but
We are at a key level for bulls 33480 has been broken with no effort it looks like bulls have given up on the rally.
THE candles seem to indicate zig zag patterns as the bulls are trying to defend the 30 000 level.
If we see a rally here back above 34480 we could see higher levels
The adx is still very bearish on the daily
And the rsi is below 30
Strong bearish signals
Candles seem to indicate that the bearish move is loosing Steam
We have to check first if this is not the last stand creating this illusion of bullish strenght.
THE wave pattern is confirming some more downswing
And we are currently below the ichimoku cloud on the daily
The weekly still shows strong signs of bullishness
We could see another week of downswing before the next rally.
It seems like all major players have left the market even if they say they still have some coins
So my speculation is the lowest level will give the best rewards
WAIT PATIENTLY AND LOOK CLOSE TO SUPPORT BETWEEN 30 000 AND 20 000
COULD BE SOMEWHERE IN THE MIDDLE FOR A RALLY.
LOOK AT PERIVIOUS ANALYSIS FOR MORE INFO
