If we're in a May to July repeat then we could have another month of chop before we get a clear direction.
It would also appear we are possibly forming a descending wedge which could trigger a bullish reversal. The MACD is also making higher lows while price keeps dropping. Thoughts?
TA Methods-
The overall Parallel Channel creates a trending level of support.
Fib retracement is based on the ATH to March '20 low.
Fib time extension is based on the Jan 1st '21 breakout to the first ATH and extended from there.
My future price target of 74k by June is based on the same measured move of the previous rally (replicated candles) combined with the...
This is my TA on BTC and my personal price target should the 40k region hold... This is my personal opinion through attempting to understand market sentiment, technical analysis, and trends. Comments are welcome! Thank you.
