BTC strong downtrend channel looking for support

Dear friends,

The bulls didn’t had enough juice to follow the scenario 1, the Inverse H&S didn’t get enough support to explose.

The Bearish divergence (MACD) + downtrend line resistance + Low Volume (market is hesitating) didn’t make a reversal trend !

As we can see the bears win this fight but not the war, another possible pullback is willing to come out but….only after findind the right support.

I see 2 scenarios possible support :

1) Between 9200- 8800
2) Between 6350-6000


SCENARIO 3
3) DOWNTREND CHANNEL (5th Eliot Wave) will take time and will exhaust the buyers til the month of June!

I’ll keep you update my friends,

But what it sure, don’t hesitate to like and follow ;-)

Good luck with your trades.

Mehdi Green

$$$Disclaimer : I’m not financial advisor, this is just for education purpose only$$$

Comment:

Dear friends,

As you can see the retracement is following scenario 1, BTC didnt have enough support from the 200 Moving Average. We are crossing it!

So many people are predicting a pullback, let's be cautious with your position entry and understand that we are in a fight in a long range trade between bulls and bears. What does it mean? simply that the trend will be define by breaking out support/resistance. There is still a possibility for a pullback around 10200$ otherwise we will touch support of scenario 1 around 9200$.

Don’t hesitate to like/follow ;-)
Good luck with your trades.
Mehdi Green

$$$Disclaimer : I’m not financial advisor, this is just for education purpose only$$$

Comment:

Strong drop under 10000$ targeting scenario 1