BTCUSD recently drops to a strong support zone as my expectations from my previous trading idea last Thursday. Bitcoin conference is in progress and a big announcement coming soon - over 16:30 Miami time. In short term, such a conference is a bearish indication, but in the long run of course means more adoption. What is the supported thesis technically for the expected uptrend on Bitcoin
- price finished symmetrical A-B-C correction with A=C wave
- MACD indicator is at the low of 1-st April with the potential to reach the target
- 25% move will be good for price action and an indication of a parabolic 5-th wave
- huge probability price to range in 47-48k - day or two when starting exploding
If you have any questions related to this trading idea I will be happy to provide you with answers.
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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.