Hello AlgoFrens
I hate to be the person to say "well it all depends on bitcoin" but in reality bitcoin dominates the crypto space by over 40%. So we have to see what btc does.
on the lower time frames(1H-4H) I still remain adamant that we need to see a final retrace to the .618 Fib extension. Although its okay if we dont.
We seem to be trading in a downwards channel in comparison to Feb/21.
The MACD, RSI , Stochastic and even KDJ seem to have calmed down from all the selling pressure and downwards strength for now. So maybe a small swing to the upside?
In the larger time frames we are heading down but in reality we need ups and downs to get there. We just dont go straight down then straight up.
We could possibly see a run towards 2$ even but, without any volume and with bitcoin on the verge of "dumping" we cant be too sure.
To invalidate my observation I need to see a push towards 2$ or 2.15$ and be able to maintain it to see 3.5$ some time soon.
Godspeed.
on the lower time frames(1H-4H) I still remain adamant that we need to see a final retrace to the .618 Fib extension. Although its okay if we dont.
We seem to be trading in a downwards channel in comparison to Feb/21.
The MACD, RSI , Stochastic and even KDJ seem to have calmed down from all the selling pressure and downwards strength for now. So maybe a small swing to the upside?
In the larger time frames we are heading down but in reality we need ups and downs to get there. We just dont go straight down then straight up.
We could possibly see a run towards 2$ even but, without any volume and with bitcoin on the verge of "dumping" we cant be too sure.
To invalidate my observation I need to see a push towards 2$ or 2.15$ and be able to maintain it to see 3.5$ some time soon.
Godspeed.
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