As the number of governments banning bitcoin is growing, it can have a very bad week with a target of 40K $
technically : bitcoin is now in a correctional phase and having a rebound on the 61% of Fibonacci retracement, also bitcoin is reacting on the 201 EMA as a resistance.
The stochastic oscillator shows an overlap of the K line and D line which declares an additional bearish signal, on the other hand we have the RSI that is rebounding of the neutral zone makin it a resistance area.
Harmonics : bitcoin is on the 5th wave of the Elliott theory which is normally the end of a trend , and this could lead BTC to have a double bottom reversal pattern combined with 40K liquidity level which is a psychological level, and this could lead BTC to go up after touching 40 K if everything goes as planned.
technically : bitcoin is now in a correctional phase and having a rebound on the 61% of Fibonacci retracement, also bitcoin is reacting on the 201 EMA as a resistance.
The stochastic oscillator shows an overlap of the K line and D line which declares an additional bearish signal, on the other hand we have the RSI that is rebounding of the neutral zone makin it a resistance area.
Harmonics : bitcoin is on the 5th wave of the Elliott theory which is normally the end of a trend , and this could lead BTC to have a double bottom reversal pattern combined with 40K liquidity level which is a psychological level, and this could lead BTC to go up after touching 40 K if everything goes as planned.