Hell Traders,
Macro Ascending triangle $BTC. Five touches lower and upper then breakout later this year. Break down from wave 3 or 4 on lower line will potentially lead to further capitulation to 200WMA. This is either an accumulation or re distribution stage, time will tell.
Macro Ascending triangle $BTC. Five touches lower and upper then breakout later this year. Break down from wave 3 or 4 on lower line will potentially lead to further capitulation to 200WMA. This is either an accumulation or re distribution stage, time will tell.
Comment:
If you remember how price oscillated during the last summer lows, I would expect a similar move going forward. Both capitulation candles supported by huge liquation indicated by the measured volume peaks. Volume decreases and strength of down trend weakens, then reversal in play.
Comment:
Bearish scenario took precedence. Wave 4 collapsed as expected and now price will oscillate until it finds support on the 200WMA