BTCUSDT Morning Update

Technical Analysis

Hey Guys! Whats up now lets talk about bitcoin pretty bullish in this week. And forming a beautiful upward pointing triangle(Bearish Pattern). Elliot wave perspective it was under 3-3-5 Correction. It's a flat type of correction in which the two waves are ABC(Impulse Wave Blue), ABC(Correction Red) followed by ABCDE(Impulse Waves Blue). Now lets talk about indicators first of all my favorite MACD we have a beautiful divergence in MACD Hourly charts

Also we have bearish divergence in the RSI another popular indicator. What I'm saying is we will break bearish out of this triangle and will correction down to $5100-$5300 region. Thank you guys for looking into don't forget to leave a like. I'll keep updating the idea in the threads so don't forget to follow me. Thank You

Indicators

1. MACD - Bearish Divergence in hourly charts
2. RSI - Bearish Signal

Conclusion

Bitcoin Forming a upward pointing triangle which is a bearish pattern may broke downward to test $5100-$5300 region.

Thank You For Your Support


Previous Analysis

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So its started

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Failed To Breach the resistance bears are not out of the game yet.

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Testing of support before further fall

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similarity ?

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Looks like a rising wedge

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6200 Here we come

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Expecting A bounce to $6500 before the further fall expecting 5-3-5 Correction

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Target 1 reached stay tuned for update

Comment:

Expecting a Nice bounce from here Lets see how it goes i hope u guys are out

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Going just as planned

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Just as expected bear flag complete expecting sideways moment before the further fall