TO MUCH NEGATIVITY!!
Updated
Hi Everyone! Since our last 2 posts, much hasn't changed.The sentiment is negative which, I do agree with. However we do not move towards target with one move. There are people who are taking their profit people who are fearing of missing out and people who are just cost averaging. So we might see an opposite move when "EVERYBODY" is waiting a sharp drop to 6k.
So what has happened so far? We broke trough 50 ema on 4 hr chart and came back to re test it however wasn't able to hold. Since BTC has fallen below 50 ema it is now coming back to test it from the other side. If we break it and move higher we will try to test 200 ema on 4 hr chart. However not breaking it might take us towards 6800 levels.
That being said on the daily chart we haven't completed a correction wave, before another move downward, we do need to complete that. So keep an eye on breaking back above 50 ema. Position yourselves and stay safe!
As always, just a thought not an advice!
Previous post;
So what has happened so far? We broke trough 50 ema on 4 hr chart and came back to re test it however wasn't able to hold. Since BTC has fallen below 50 ema it is now coming back to test it from the other side. If we break it and move higher we will try to test 200 ema on 4 hr chart. However not breaking it might take us towards 6800 levels.
That being said on the daily chart we haven't completed a correction wave, before another move downward, we do need to complete that. So keep an eye on breaking back above 50 ema. Position yourselves and stay safe!
As always, just a thought not an advice!
Previous post;
Trade closed: target reached
Eventhough it was ashort spark I believe we have formed the C wave and completed the correction wave. Now it is likely tht we will continue to move downward
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.