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BTCUSD H16: CAN hit 40 000 USD in complex correction(SL/TP)(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as SHORT because this is a speculative BEARISH pattern . correction NOT OVER yet!
🔸 Summary and potential trade setup ::: BTCUSD 16HOUR chart review/outlook ::: MAY/JUNE weak period for bitcoin ::: based on 10 years of data ::: previously compression into rising wedge ::: broke down / re-tested the structure ::: more downside possible next 4-6 weeks ::: based on measured move projection ::: final TP BEARS is 40 000 USD ::: expect target to get hit in June 2021 ::: Bulls should wait for the BEAR structure ::: to complete now, buying near 40 000 USD ::: would be the best strategy ::: however right now BEARS maintain control ::: until we hit 40 000 USD later in June 2021 ::: recommended strategy: short sell rips/rallies ::: BULLS get ready to BUY LOW later near 40k ::: longer-term target is still valid for BULLS ::: 70/75K by AUGUST 2021 ::: so just sit out the correction now ::: good luck traders! ::: SHORT IT and get paid. period. 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment mid-term: BEARS/PULLBACK/40000USD ::: Sentiment outlook short-term: BEARS
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