My price target WAS 34k, with the INV HNS pattern. But we have problems
Bullish argument:
INV HNS
Weekly 30 and 50 cross
MACD in the green
Bearish argument:
Reversal divergence RSI daily and 4hr
Low volume
Expanding wedge/ bear flag
Fake out 27/04/23- shows bullish weakness
Currently forming bearish HNS
34 K is still possible, but BTC needs a pullback for RSI to reset. 24k, 22k possible. If so, expect alts to bleed HARD with BTC dominance so high, USD dollar looking for a bounce, and general recession data. Also possible is a new yearly low, it’ll take time, wait for the pullback to confirm, but 10k is the current WCS.
I was really hoping for 34k. Oh well…
Bullish argument:
INV HNS
Weekly 30 and 50 cross
MACD in the green
Bearish argument:
Reversal divergence RSI daily and 4hr
Low volume
Expanding wedge/ bear flag
Fake out 27/04/23- shows bullish weakness
Currently forming bearish HNS
34 K is still possible, but BTC needs a pullback for RSI to reset. 24k, 22k possible. If so, expect alts to bleed HARD with BTC dominance so high, USD dollar looking for a bounce, and general recession data. Also possible is a new yearly low, it’ll take time, wait for the pullback to confirm, but 10k is the current WCS.
I was really hoping for 34k. Oh well…
Related publications
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.
Related publications
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.