BTC local analysis hasn't changed in a few weeks.Price printed another text book Elliot motif wave, with the wave 4 triangle terminal pattern ending in the usual thrust up with a poke above all time high.
Price is also printing a textbook ABC for wave 2 with 5 waves down for A, 3 waves up for B and a strong wave C down to finish. Wave C's are always the strongest.
Pattern suggests price has one more push lower to complete this corrective wave tapping the quadruple support: S1 daily pivot, ascending daily 200EMA, major support High Volume Node (HVN) and 0.5 Fibonacci retracement at 92-94k range.
Most investors are publicly calling for buys in this area so price may be front run by the whales! The consensus often do not get what they want.
Safe trading
MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
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MSc Financial Economist, Studying PhD in Investing and Social Mood, Technical Analyst 6+ years, Investor 13+ years
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.