BTC has not choosen a direction yet. falling under the blue support line we just touched would put is in the white ABC setup going to $11k to $12k. Breaking the blue overhead resistance of the green 4 leg would put is on track for the green leg 5 to $19k+
We should know soon enough as we are closing in an decision time. We are correctly getting a deathcross of the 50 and 200ema but they have been crossing back and forth for a few weeks now another sign BTC has not chosen a clear path yet. Market is probably taking a breathe before deciding. Its been great for alts in general so im not complaining.
The previous hourly candle gave a 9 TD reversal candle and the candle we are in now showed a good bounce. Still like said before we have to wait till one of the 2 blue trendlines get broken to be more sure of BTC its mid term direction.
We should know soon enough as we are closing in an decision time. We are correctly getting a deathcross of the 50 and 200ema but they have been crossing back and forth for a few weeks now another sign BTC has not chosen a clear path yet. Market is probably taking a breathe before deciding. Its been great for alts in general so im not complaining.
The previous hourly candle gave a 9 TD reversal candle and the candle we are in now showed a good bounce. Still like said before we have to wait till one of the 2 blue trendlines get broken to be more sure of BTC its mid term direction.
評論:
BTC i just noticed although we broke through some support lines which were discussed earlier, this wave setup shown here is still within the channel, the bottom support is going over the wicks in this one instead of cutting the wicks of as i did before. also on the 4h in leg 2 we had 2x a 9 countdown, now we are on a 7 and in 2 candle we get a 9 giving it 2 countdowns as well. even though we fell through some support lines i think only if we fall out of this setup as well we will go down more to 11k-12k area.
評論:
p.s. and on the daily the 50 ema is giving support as well