BTC Outlook
#BTC UPDATE
Fib level 0.618 becomes a strong resistance to hold BTC to go higher. I also found a bearish pattern on BTC, namely the rising wedge pattern and from the pattern I formed it was successfully broken. BTC price is still stuck at 44.2k, if 44.2k is not strong enough to hold BTC, then BTC will fall back to the next support at 42.5k
For the downside target of the pattern is around 34k. But it should be noted that before heading to the 34k area there are several strong support levels that need to be passed first.
The previous BTC movement also created an elliot wave pattern, I assume that this elliot impulse wave has been successfully formed and 48k is the peak of the fifth wave. Based on elliot wave theory, after wave 5 has been successfully formed there will be a correction pattern, namely abc correction.
On the chart i also gave a correction abc pattern which i think might happen to BTC for the next few days.
Resistance : 48k, 51k
Support : 44.170k, 42.5k-40.5k
EMA 21, 34, 90 can also be support level for BTC
Feel free to correction
Give your opinion about BTC in the comments section below
Fib level 0.618 becomes a strong resistance to hold BTC to go higher. I also found a bearish pattern on BTC, namely the rising wedge pattern and from the pattern I formed it was successfully broken. BTC price is still stuck at 44.2k, if 44.2k is not strong enough to hold BTC, then BTC will fall back to the next support at 42.5k
For the downside target of the pattern is around 34k. But it should be noted that before heading to the 34k area there are several strong support levels that need to be passed first.
The previous BTC movement also created an elliot wave pattern, I assume that this elliot impulse wave has been successfully formed and 48k is the peak of the fifth wave. Based on elliot wave theory, after wave 5 has been successfully formed there will be a correction pattern, namely abc correction.
On the chart i also gave a correction abc pattern which i think might happen to BTC for the next few days.
Resistance : 48k, 51k
Support : 44.170k, 42.5k-40.5k
EMA 21, 34, 90 can also be support level for BTC
Feel free to correction
Give your opinion about BTC in the comments section below
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