We are very close to the end of the bull run.
Evergrande has been getting loans, what it is holding the panic atm.
The main reason of the current crash is the new covid variants and the government restrictions. Uncertainty in the future of our economy.
I am of the opinion that this will help the crypto industry to climb further.
As per chart we can see that the 3rd Elliott wave could still be completed within this cycle. After this crash I think BTC will have an opportunity to rise and get near the top again. Time will tell.
You can study the channel formation and you should be aware of the times applied.
BTC might retest 43k soon. This would be the 3rd test on the same diagonal level described by the yellow transversal line. This will give upper pressure to BTC to continue claiming to 59k. Time will tell if we will reach the maximum of around 72-78k.
Appreciate the hard work and press like.
Happy trading!
Raf
Evergrande has been getting loans, what it is holding the panic atm.
The main reason of the current crash is the new covid variants and the government restrictions. Uncertainty in the future of our economy.
I am of the opinion that this will help the crypto industry to climb further.
As per chart we can see that the 3rd Elliott wave could still be completed within this cycle. After this crash I think BTC will have an opportunity to rise and get near the top again. Time will tell.
You can study the channel formation and you should be aware of the times applied.
BTC might retest 43k soon. This would be the 3rd test on the same diagonal level described by the yellow transversal line. This will give upper pressure to BTC to continue claiming to 59k. Time will tell if we will reach the maximum of around 72-78k.
Appreciate the hard work and press like.
Happy trading!
Raf
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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.