BTCUSD to around 2,5k
1) EW count is not complete.
2) RSI- bearish divergence
We will most likely fall to around 2,5k where we find very strong support. Let's see how the market reacts when waves are finished.
Until then,
//P
2) RSI- bearish divergence
We will most likely fall to around 2,5k where we find very strong support. Let's see how the market reacts when waves are finished.
Until then,
//P
Note
EW count 2->4 is a 1:1 Fibonacci extension. Thereby target of aprox. 2,5KWe might get a strong bounce at 3k where we find very strong support.
The bulls will be fighting very hard to change market direction. We will probably make one leg up (i.e. bull trap)
However I believe it's too soon to reverse the trend completely. It's still rather profitable to short, and shorts are in power.
//P
Order cancelled
Obviously EW count was incorrect
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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.