This is what I am watching for in the next 4H candles for BTC.
Notice the RED lower highs and lower lows, forming a descending wedge. This needs to begin making higher lows and higher highs and break about that Purple wedge trend line and a new 2023 high. If not then BTC will keep carving out more lower highs and lower low. Notice the one Green high low, from my EW counts, this could be an area to reverse?
Let's see what happens Good Luck.
Notice the RED lower highs and lower lows, forming a descending wedge. This needs to begin making higher lows and higher highs and break about that Purple wedge trend line and a new 2023 high. If not then BTC will keep carving out more lower highs and lower low. Notice the one Green high low, from my EW counts, this could be an area to reverse?
Let's see what happens Good Luck.
Comment:
BTC is making a higher high and has breached the trendline. Let's see if a retest holds and makes a higher low to continue rising?
Comment:
could be the area of completion for wave ((ii)) - I am looking for some consolidation here and then move up
could be the area of completion for wave ((ii)) - I am looking for some consolidation here and then move up