we might have an inverted cup and handle forming. this pattern is even stronger when the next support is very distant. the magenta line is still reachable.
btc exited the uptrend canal.
but we also might bounce on the green support, invalidating the cup theory. but if we cross it, then the handle is done and so is the uptrend.
we just left the 5th and last part of the impulse wave which is a pretty bad sign when you're at the top of the B section in the bigger correction wave.
zoom out for the big picture. you get my point?
targets (and strong supports) are:
- 3400 (easy target)
- 3000 (very strong psychological support)
- 2500
anything below 2000 would be a fukushima on crypto. and a buying opportunity if you have money left.
btc exited the uptrend canal.
but we also might bounce on the green support, invalidating the cup theory. but if we cross it, then the handle is done and so is the uptrend.
we just left the 5th and last part of the impulse wave which is a pretty bad sign when you're at the top of the B section in the bigger correction wave.
zoom out for the big picture. you get my point?
targets (and strong supports) are:
- 3400 (easy target)
- 3000 (very strong psychological support)
- 2500
anything below 2000 would be a fukushima on crypto. and a buying opportunity if you have money left.
