More correction to follow?
Hi All
As expected in my previous analysis BTC fell down. And BTC might have indeed a red April (1st red month since September 20).
We are currently in a superior wave 2 which is a correction wave.
Next support I see is between 47k-48k and where I expect sub wave a) to close and where a correction wave b)/ retracement of this downtrend might follow.
We are now in a risky area with high volatility and carefullness is needed. Other idicators have to be added for better forecast.
On weekly chart 12MA looks like also preparing to cross 26MA which might be a bearish signal.
Time will tell
(No financial advice)
As expected in my previous analysis BTC fell down. And BTC might have indeed a red April (1st red month since September 20).
We are currently in a superior wave 2 which is a correction wave.
Next support I see is between 47k-48k and where I expect sub wave a) to close and where a correction wave b)/ retracement of this downtrend might follow.
We are now in a risky area with high volatility and carefullness is needed. Other idicators have to be added for better forecast.
On weekly chart 12MA looks like also preparing to cross 26MA which might be a bearish signal.
Time will tell
(No financial advice)
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.