I think this picture gives an update on the previous analysis, I try to use TA to see what can possibly happens. There are a few situations
1 It can rebound back to the 786 fibo levels around 17000 before completing the right shoulder and hence the bearish flag to 11,000/8,500/5,500 areas 2 It will consolidate to form a Triangle resting around 11,500-15,000 area 3 It win the 17,000 786 fibo level and we are heading for 22,000
What do you think? Please feel free to leave a comment, happy holidays.
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suddenly 5,500 seems possible, however theres support aat 8500, if it breaks 5,500 is around the corner
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theres some divergence in small time framem like 1H and 4H
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however until the down trend line is broken, this trade still active to 5,500
Fundamentals are to strong. The on ramps into crypto are packed full of new people trying to get in. This setup is much like the 8K area where BTC simply refused to be pushed very far down and it just keeps grinding up.