From the last idea, we did end up pivoting at 6.4k as I had thought but unfortunately we didn't have the follow through I was expecting. We are now looking at another potential leg downward.
BTC seems to be building up for a breakout, but the direction is unclear. Oscillators and divergences are showing a gradual loss of momentum in the current bear trend.
I have the explanation of the crucial points on the chart. I would not open a trade while still in the apex of this wedge. Waiting for confirmation above 7150 or below 6450.
BTC seems to be building up for a breakout, but the direction is unclear. Oscillators and divergences are showing a gradual loss of momentum in the current bear trend.
I have the explanation of the crucial points on the chart. I would not open a trade while still in the apex of this wedge. Waiting for confirmation above 7150 or below 6450.
Comment:
Fractal from the first drop to 5.8k in feburary. If we fail to break the 7150 pivot this could happen.
