- Bitcoin is likely to go down, because this falling wedge is breaking down and also because the impulse wave has been completed!
- 10% crash is the minimum at this point, but we could go even lower.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- As you can see, we have 2 trendlines, and both of them are breaking down.
- In my opinion, this trend is already overextended and we should see a bearish retracement.
- We have a lot of unfilled GAPs below the current price, and usually gaps act like a magnet, sooner or later.
- This is a quick update on the Bitcoin price; if you want more updates on lower timeframes, make sure you hit the like button right now so I know you are interested!
- Thank you, and for more ideas, hit "Like" and "Follow"!
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