It's looking more and more like the 15 minute chart is painting a head and shoulders pattern that will lead out the 3rd part of a correction wave. Will it complete, or will it be a fake out? Perhaps a short with a good sized stop loss down to the 28k zone could work well.
It looks like BTC may be forming a Head and Shoulders pattern on the 15 min chart. It will still take a while to play out if so, but based on the measurements it could be another visit to the 29k level. What are your thoughts?
Looks like BTC may be trying to regain some of the ground that had been lost yesterday. We’re currently testing the local trend line to in what looks like an attempt to break out and re-test 39k and hopefully 40k.
Update on previous charts showing the pathway for BTC down to 38.5 to target a potential bounce to the 42k zone. Timing would line up with potential inflation announcements in the USA being released today.
Two possible paths that BTC could take today see it landing in the same approximate position at the lower edge of the triangle. The first path (light blue) see us dipping into the 36.8-36.7 range and then coming back up to test resistance at 37.4k. The second path (darker blue) sees us traveling upwards for an early test of 37.4k, then back down and up before...
BTC is still playing with in the triangle and may be hanging out in the area for a few more days. Two possible path options are a visit back into the 37s with resistance levels from the 9th or breaking the lower barrier of the triangle and settling into the 35k area.
Dogecoin to 0.38 then to 0.43 by 10th of June
If the 5th leg of the Elliot wave holds true, BNBUSDT could see itself dropping into the 285 range
We've broken out of the lower edge of this descending channel twice, in what looks like a downward Elliot impulse wave.
Phase 5 of the wave could see BTC breaking the current symmetrical triangle and dropping short term to the 32.6k support zone.
BTCUSDT Price Action on june 2021