on weekly time frame, I am still considering we are on bearish trendline - major trendline support - broken back to the week on 17th of January, BTC still struggling to got back above this trendline 47.5 / 48.5k area with confirmed candle closed above. Also looks like perfect example of BEAR FLAG forming recently. Looking also from combination of Elliot waves...
1D chart showing me that we are close to repeat leg down as from previous months. Yesterday on the 1M (monthly) candle for many looking promising pump with nearly 6k up straight on the 1st of October, personally I am not expecting higher then 49.5 / 50k touch then drop to 24-26k range in a matter of weeks.
Training purposes only, please don't treat that...
I love to see similar story repeating / so far play exactly as expected after previous ATH 65k
in my opinion we are going down as low as 12k still possible / definitely 18 - 19k on table (as you can see those 2 red weekly candles)
RSI - sharply down since previous ATH, and currently below 50 level on weekly chart
quick update regarding to previous analysis
we are still in bullish trend no doubt
wherever, keeping in range still in play and i n my opinion 12345 Elliott Waves patent, combination with Fibonacci retracement and trend lines could give me and hopefully others better understanding of where we potentially are currently :)
I believe we still have to close /...