Hi Everyone!! In our last post, we have started to buy the "fear" around 6600 level. Which turned out to be a spot on call. Since then BTC has made 13% upwards movement. So what is about to happen next? Has it bottomed or is the lower price yet to come?
Well i believe the bottom has yet to come. We just had a 3 wave correction and going to continue to move downwards. However the confirmation of this will be with the pull back towards the 50 ema on 4hr chart.If we pull bank and bounce we might see a continuation towards. 200 ema.
Yet if we break 50 ema we will start to go downwards and start making new lower lows. So the key support is 50 EMA! I believe breaking the 50 ema is more likely, however always hedge yourselves against opposite outcomes, don't put all your eggs in one basket!
As always just a thought not an advice!!
Previous analysis:
Well i believe the bottom has yet to come. We just had a 3 wave correction and going to continue to move downwards. However the confirmation of this will be with the pull back towards the 50 ema on 4hr chart.If we pull bank and bounce we might see a continuation towards. 200 ema.
Yet if we break 50 ema we will start to go downwards and start making new lower lows. So the key support is 50 EMA! I believe breaking the 50 ema is more likely, however always hedge yourselves against opposite outcomes, don't put all your eggs in one basket!
As always just a thought not an advice!!
Previous analysis:
