I have been receiving a lot of messages asking me what is next for Bitcoin. From a technical perspective, BTC/USD broke the ABCDE triangle and is still below the lower trendline trying to retest it with a rising wedge.
I am still waiting for wave 5 to be completed inside the rising wedge so we can enter with a sell position to target the bottom of the rising wedge at $31,500. Breaking $31,500 will push BTC/USD and the whole crypto market for more downside, to retest the $28,000 level and the $22,000 in extension.
I am still waiting for wave 5 to be completed inside the rising wedge so we can enter with a sell position to target the bottom of the rising wedge at $31,500. Breaking $31,500 will push BTC/USD and the whole crypto market for more downside, to retest the $28,000 level and the $22,000 in extension.
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