BTC/USD : Low TF overview
BTCUSDHello everyone 😃
BTC is forming a triangle into a rising wedge.
There is a bigger rising wedge also.
📍 You can reach my last idea about BTC's movement on Related Ideas at the end of caption !
Majority for movement is still bullish, How ever funding is high and most of positions are being short..
On my personal view;
I will wait for a confirmation after current FIBBO time-zone.
I'm still looking for minor dip at 14th May around 40K !!
Possible directions for BTC on next 4 days is :
- Reaching major rising wedge's higher line and then may reversal movement happen
- Reaching 66K level on FIBBO extension and then may reversal movement happen
- Being rejected below current rising wedge and retest historical bearish trendline and then we may see the continuation of downtrend movement
I'm still predicting on my last exclusive BTC's analysis, How ever these are all for mid-term.
📌 It could be better to see a minor dip before real top around ~200K by the end of 2021...
By the way, As we are into bull market, Every short idea is risky !
But I'm talking about important scenarios like :
1️⃣ Multiple bearish divergence on Total market cap
2️⃣ Major pivot points based on FIBBO time-zone
3️⃣ Market is extremely overheated
4️⃣ Reaching 100% level on FIBBO extension
5️⃣ Reaching the final fifth upward wave of Elliot impulse wave
6️⃣ BTC's market is in the greedy stage.
And many more factors that can confirm our last analysis for mid-term correction for BTC !
🔴 Mentioned directions on this chart are not valid, I just want to make it more clear for scenarios...
Attention: this isn't financial advice we are just trying to help people on their own vision.
Have a good day!
Helical_Trades
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