Hi traders, price is confirming that possible move to the downside once again with 1h price action in the making and possible bearish running flat there, but if price will break previus high in that correction we will probably see expended flat and retest of upper trendline (i will show below price action and explain). Price is lossing bullish momentum, so retrace to our 27.000 area and daily trendline is realy possible. I will consider that wave to the downside as C wave of big daily bullish flag, and after this big daily pattern will be complete we will se price pushing higher. Check below i will update about price action on 1h. Stay patient
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As you see we are having bearish impulse and A-B wave and C in the making which i expect will stop around 37.000-37.150, if price will aggressively break abowe 37k area then we will probably see break of previous high in that correction at 38k and high of our A wave, then i will expect price to push bit higher and retest that upper trendline and complete expanded flat.
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Price is slowly pushing higher, so pattern changed to expanded flat, and i will wait for possible retest of upper trendline or strong breakdown
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Price nicely breakdown, watch for possible correction to add more, there is nice wave coming
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Price is breaking down realy nicely, wait for corrections to add
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As you see nice breakdown appered like expected on bitcoin. Price might correct now in order to complete that last push to to daily 0.618 where I will take of profits and watch to buy
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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.