BTCUSD is going downstream, but before we see 40k broken, BTCUSD still needs to retest 50k to gather more steam for the downward push.
From my point of view, BTCUSD just completed the AB = CD pattern. I am expecting another retest at 41k (which may not happen, fingers crossed🤞🏽) before a jump to 50k before the downward movement to 30k resumes.
Feel free to leave your comments, and like if you agree
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BTCUSD CD-length equals 1.272 of AB, but this doesn't invalidate the analysis.
40K isn't broken yet until BTCUSD forms a top below it, so I will look out for reversal opportunities. If BTCUSD bottoms above 38K, then the movement up to 50k still stays valid.