Bitcoin will reach the reversal level soon!
Hello, Bitcoin fans!
While my local price analysis is playing out it's time to talk about the potential crash which can happen next week.
Let's take a look at the 1D time frame
BTCUSDT chart. First of all let's notice the huge supply zone. Yesterday the price squeezed above it and we saw the immediate reaction, but today the bearish pressure has been destroyed. I suppose the $25200 breakout in the upcoming days. Now it's time to apply the Elliott waves theory. We can define the wave 3 top according to maximum awesome oscillator value. I consider the deviation above the $25200 could represents the potential wave 5 top. Bitcoin is printing the beautiful 5 waves impulse. Divergence with the AO is the clear sign of incoming correction or even the reversal. Be careful!
Best regards, Ivan
While my local price analysis is playing out it's time to talk about the potential crash which can happen next week.
Let's take a look at the 1D time frame
BTCUSDT chart. First of all let's notice the huge supply zone. Yesterday the price squeezed above it and we saw the immediate reaction, but today the bearish pressure has been destroyed. I suppose the $25200 breakout in the upcoming days. Now it's time to apply the Elliott waves theory. We can define the wave 3 top according to maximum awesome oscillator value. I consider the deviation above the $25200 could represents the potential wave 5 top. Bitcoin is printing the beautiful 5 waves impulse. Divergence with the AO is the clear sign of incoming correction or even the reversal. Be careful!Best regards, Ivan
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