Despite aggressive downside action from $68K, Bitcoin Bears are not yet done with their assault on Bullish traders. Based on price action, to include both confirmations and invalidations, it seems that Bitcoin is currently in a sideways push which could last for upwards of 3 weeks.
I anticipate a drop test near $16K, also a pop test near $22K as price action ping pongs to rob more badly leveraged traders.
Ultimately, Bitcoin should find its bottom support level between $13K-$15.5K.
While I totally expected a drop even before 68K landed, I didn't think it would drop this far.
Let's see how the movie pans out.
Surf carefully; dont drown.
I anticipate a drop test near $16K, also a pop test near $22K as price action ping pongs to rob more badly leveraged traders.
Ultimately, Bitcoin should find its bottom support level between $13K-$15.5K.
While I totally expected a drop even before 68K landed, I didn't think it would drop this far.
Let's see how the movie pans out.
Surf carefully; dont drown.
Note
(a) wave seems that it will take an impulsive route -- Note
still feeling out the motion of Wave (a):Note
due to time decay, i've reviewed the mid micro waves of my assessment and believe that bulls have a bit of FOMO left in the tank -- Order cancelled
bottom likely reached; no $13k for BTC.
Decode the wave, anticipate the move.
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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.
Decode the wave, anticipate the move.
Related publications
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.