See the red circled areas in the past, they represent the first correction: 2 attempts to break the bearish trend before a plunge to the blue circle.
Yesterday and today we see the same thing: 2 attempts to break the bearish trend (each attempt resulting in a lower higher) before a plunge: likely to the second blue circle around $31k.
Be careful though, there's a possibility that we will plunge right through the
31K to the $30k region, we are too close for traders to ignore.
Some say that weekend trading is the opposite of weekly trading. This is not true. Yes, there are smaller margins but the ones moving the weekly trading are the same people moving the weekend trading. BTC trading follows technicals. Period. It's not Elon Musk, or NVT, or anything else - you draw the charts correctly, you will see the price behave accordingly, weekend or not.
Check out my many past charts, which chart that we are very convincingly going to $17k, as that is the convergence of:
a. H+S pattern (85% reliable)
b. 200 weekly SMA
c. Several long-term trend lines
d. End of Wave 4 (Wave 1 ended at
13K)
Yesterday and today we see the same thing: 2 attempts to break the bearish trend (each attempt resulting in a lower higher) before a plunge: likely to the second blue circle around $31k.
Be careful though, there's a possibility that we will plunge right through the
31K to the $30k region, we are too close for traders to ignore.Some say that weekend trading is the opposite of weekly trading. This is not true. Yes, there are smaller margins but the ones moving the weekly trading are the same people moving the weekend trading. BTC trading follows technicals. Period. It's not Elon Musk, or NVT, or anything else - you draw the charts correctly, you will see the price behave accordingly, weekend or not.
Check out my many past charts, which chart that we are very convincingly going to $17k, as that is the convergence of:
a. H+S pattern (85% reliable)
b. 200 weekly SMA
c. Several long-term trend lines
d. End of Wave 4 (Wave 1 ended at
13K)
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.
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.