BTCUSDWe are in a Bear Market since November 2021, which is taking the form of an ABC Zigzag to the downside. We are missing Primary Wave 5. It should be shorter than Primary Wave 3, which was about $15,000 USD in length. Meaning we should stay above $9,400 USD. My target is between 16k and 12k. We’ll see.
The RSI indicator and the Squeeze Momentum Indicator still got a long way to go before being oversold in the daily chart.
Good Luck to You
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The main count continues, we retrace about 61.8% of the previous decline. As long as we remain below $24,300 is still valid. I expect lower prices on the coming days.Good Luck to You
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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.