A few hours to the weekly close and we are still range bound for Bitcoin.
The chart is printing very low buy interest and we dipped once again, however, if my EW counts are correct, we are due for a retest of the higher range bounds at 31K.
31K level was tested twice since we steeply dropped below the macro support at 27K a week ago, and this should be the third knock on that door.
Will it open?
Can the last week of May witness 40K Bitcoin?
Let's wait and see ;)
The chart is printing very low buy interest and we dipped once again, however, if my EW counts are correct, we are due for a retest of the higher range bounds at 31K.
31K level was tested twice since we steeply dropped below the macro support at 27K a week ago, and this should be the third knock on that door.
Will it open?
Can the last week of May witness 40K Bitcoin?
Let's wait and see ;)
Order cancelled:
Bullish divergence negated.
No buying volume to support the analysis, so apparently wave C is deeper now than anticipated.
The count and long narrative are still intact for now nonetheless.
No buying volume to support the analysis, so apparently wave C is deeper now than anticipated.
The count and long narrative are still intact for now nonetheless.
There is also a 1H bullish divergence :3