We haven't seen a SFP and "just" bounced o f a HTF Daily support level. Should we reject from the W (yellow, dotted since traded), I expect another leg down into the 1:1 trend based fib extension. However, flipping that W(eekly) S/R Level into support, should bring us up to 35, if not 38. Unlikely, but possible, the highs around 40k could be taken too, while...
Let's keep it simple: there's a lot of resistance we need to break past in order to actually break up. Even still, looking downwards for an easy path is not certain either. If Bitcoin can survive the declaration and act of sudden war of a large country and economic powerhouse such as Russia, can we even trust that it will break downwards?! The path is not clear,...
Because of the world's actual, practical reliance on oil, even BTC is having a hard time keeping up. Bitcoin, sadly, is in a bear trend against oil. I don't know when this bear trend will end, either. I cannot tell if it is short or long term. Perhaps someone with experience trading oil futures and whatnot can chime in. Otherwise, watch out, fellow crypto...
Here is a nice clean look at the key horizontals from the 27k - 45k price range, from when BTC was on its way up earlier this year... and how they look relative to where BTC is currently trading at. // Durbtrade
Please be kind, i´m just starting to lern the Elliot Wave Theorie and want to praktice what I`ve learnd in the past week.This is only a Idea of a midterm Trading Plan, its no Financial advice nor a trading setup itself.It just shows an Idea which could be used to form a proper Trading setup. We can see a Breakout of the corrective Triangle but without Volume so...
Bitcoin outlook & major horizontal levels against USD. Support levels denoted in blues and green. Resistance levels denoted in orange and red. Green and red denote the main range under consideration.