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In my previous idea I introduced the rising wedge from which price broke down. I did mention that there can be another pump to $9680. Although price pumped to $9680 it did not invalidate the rising wedge , it just retested it.
This last price pump created the 3rd bearish divergence. Usually price drops on the first divergence, this indicates the bullishness of the move. However as always there should be a retracement to reset all the technicals.
It will be very unusual and inorganic if price pumps more without a retracement.
This last price pump created the 3rd bearish divergence. Usually price drops on the first divergence, this indicates the bullishness of the move. However as always there should be a retracement to reset all the technicals.
It will be very unusual and inorganic if price pumps more without a retracement.
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I think a short-term downward pressure is due. For both bullish and bearish wave counts, we are currently traveling in a flat with 1:1 extension at 9.6k and 1:1.618 extension at 9.9k. BTC is at heavy resistance zone.
Check out our wave count.