To be honest, i don't think so, at least not until the purple area is broken, the area is a very important one since the sellers from the last drop are very interested to sell their remaining assets at that level again
BUT as Elliot waves shows, there is clear ABC happened by the drop and a new 5 waves is about to take place, not too far from happening though but the purple area should break and the supply area should be invalidated for it to go up, IF it goes up the next target areas are already on the chart.
BUT be careful, as RSI trend-line suggests, the purple area is highly to reject the price for a while, it either breaks, or falls even more
in this period a consolidation of price could occur which results in a growth in Alts
if you have any tips or ideas share with me :)
BUT as Elliot waves shows, there is clear ABC happened by the drop and a new 5 waves is about to take place, not too far from happening though but the purple area should break and the supply area should be invalidated for it to go up, IF it goes up the next target areas are already on the chart.
BUT be careful, as RSI trend-line suggests, the purple area is highly to reject the price for a while, it either breaks, or falls even more
in this period a consolidation of price could occur which results in a growth in Alts
if you have any tips or ideas share with me :)
Comment:
So we are seeing the rejection happening, but not too strong, for the bitcoin to fall again an engulfing candlestick pattern could confirm the fall There is clear divergence in 1h timeframe on RSI but also looks like a triangle pattern, these are all probabilities that i see in the chart, my bias is not clear Yet
Comment:
So the bias is kind of confirms and it's BULL, but still waiting for a pullback,
Still watching ...
Still watching ...