BTCUSD bearish analysis
Bearish count for BTCUSD; I would say this is contingent on equity top at or near completion.
What a chop-monster since March 2024... this count envisions an expanding leading diagonal ((A)) forming.
While this count may not be the most likely, it does provide a low-risk/high-reward opportunity to the downside.
If price gets above 68926.01 but 71939.10 holds as resistance, then target wave 5 looking at 50-52k area.
Again, I think this move would require concurrent sharp drop/high volatility move in equities.
What a chop-monster since March 2024... this count envisions an expanding leading diagonal ((A)) forming.
While this count may not be the most likely, it does provide a low-risk/high-reward opportunity to the downside.
If price gets above 68926.01 but 71939.10 holds as resistance, then target wave 5 looking at 50-52k area.
Again, I think this move would require concurrent sharp drop/high volatility move in equities.
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