BTC update
In our last Bitcoin analysis, we were waiting for the 4th wave to appear which we now have. We are on the final legs of the ABC and we have a solid level to look for price to stay above, which is above 19.5K. The bullish reversal can come in anywhere above that price. It will be more clear once we get the final leg down.
We can see that there's bullish divergence at play at the moment. The last time we saw any kind of divergence, it was in 2021 where we had bearish divergence. Bitcoin went on to crash more than 50%. The bullish divergence is indicating that there's a trend reversal coming soon.. and it's going to be a big one!
Trade Idea:
- Watch lower timeframe trendline breaks for the 5th wave lower
- Targets: 27k , 24k, 20k
Once we're near the bottom, we can look for any bullish reversal patterns at which time we can load up and ride Bitcoin to 100K! 🚀
We can see that there's bullish divergence at play at the moment. The last time we saw any kind of divergence, it was in 2021 where we had bearish divergence. Bitcoin went on to crash more than 50%. The bullish divergence is indicating that there's a trend reversal coming soon.. and it's going to be a big one!
Trade Idea:
- Watch lower timeframe trendline breaks for the 5th wave lower
- Targets: 27k , 24k, 20k
Once we're near the bottom, we can look for any bullish reversal patterns at which time we can load up and ride Bitcoin to 100K! 🚀
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.