At the moment btc is like in a symmetrical triangle. If we take the EW ABCDE, it would look like this.so that means maybe this should be wave E.
I know a lot of the people are really bullish, sorry but i just can't see it in the chart at the moment. We have to break 44500 (also the 200ema) and use it like a support, even then i see btc going to the low 50's.
At the weekly chart, if this weekly candle will close below the 43500 means it's already candle nr 10 open and close below the 50EMA (so that's bearish)
For me everything is depending what btc will do at 44500. If it doesn't break that ->the target can be +/- 31000
BUT on 39000 btc has a lot of trendlines(some a didn't draw or else it would make a big mess) coming together. it needs to break that as well for the target 31000
We have to see
I know a lot of the people are really bullish, sorry but i just can't see it in the chart at the moment. We have to break 44500 (also the 200ema) and use it like a support, even then i see btc going to the low 50's.
At the weekly chart, if this weekly candle will close below the 43500 means it's already candle nr 10 open and close below the 50EMA (so that's bearish)
For me everything is depending what btc will do at 44500. If it doesn't break that ->the target can be +/- 31000
BUT on 39000 btc has a lot of trendlines(some a didn't draw or else it would make a big mess) coming together. it needs to break that as well for the target 31000
We have to see
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.