BTC has been correcting since its ath of almost 20k.
Now that btc seems to be in a falling wedge, we could try to make use of this trading range.
Because we are in a trading range, the RSI is of good use to see if it's a good moment to buy or to sell.
We have had 5 waves down, I would assume we will make an abc movement up again, as we did after the first big correction.
We have tested the bottom around 10k and support has held, so the target for now is the top op the wedge (around 13k, 14k).
With the cme contacts expiring the 26th (I think those contracts could have an effect on btc), we might see the rally start after that date.
The breakout out of the minor correction trend (purple) would be a bullish indicator that we will see the price go to our tp.
Now that btc seems to be in a falling wedge, we could try to make use of this trading range.
Because we are in a trading range, the RSI is of good use to see if it's a good moment to buy or to sell.
We have had 5 waves down, I would assume we will make an abc movement up again, as we did after the first big correction.
We have tested the bottom around 10k and support has held, so the target for now is the top op the wedge (around 13k, 14k).
With the cme contacts expiring the 26th (I think those contracts could have an effect on btc), we might see the rally start after that date.
The breakout out of the minor correction trend (purple) would be a bullish indicator that we will see the price go to our tp.
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