BTC going up or going down?
3day chart - small pattern currently a bearish rising wedge setup with 2 days left to close.
key to close above 40,792 for potential upside towards wedge resistance.
larger pattern, potential h&s with a neckline towards lower 3d demand 31,900.
potential diamond pattern as well for upside reversal towards golden pocket. few untested 3d supply above and finally a monthly supply 56K
previous thought about 3 drives still seems valid to me if this diamond reverses to the upside. never textbook in crypto but i've tracked more than a handful of this harmonic
where the retracements overshoots and reaches the target to the dot + downside retrace.
bull case - reclaim golden pocket + diamond reversal - target monthly supply 57k/73K - 49K 3 drives retracement.
bear case - h&s breakdown and retests lower 3d and monthly demand down to 28K possible.
monthly demand - 37,150
3d demand - 39,442
daily demand - 38,891
daily supply - 42,870
4hr supply 40,792
golden pocket 43,488-44,758
key to close above 40,792 for potential upside towards wedge resistance.
larger pattern, potential h&s with a neckline towards lower 3d demand 31,900.
potential diamond pattern as well for upside reversal towards golden pocket. few untested 3d supply above and finally a monthly supply 56K
previous thought about 3 drives still seems valid to me if this diamond reverses to the upside. never textbook in crypto but i've tracked more than a handful of this harmonic
where the retracements overshoots and reaches the target to the dot + downside retrace.
bull case - reclaim golden pocket + diamond reversal - target monthly supply 57k/73K - 49K 3 drives retracement.
bear case - h&s breakdown and retests lower 3d and monthly demand down to 28K possible.
monthly demand - 37,150
3d demand - 39,442
daily demand - 38,891
daily supply - 42,870
4hr supply 40,792
golden pocket 43,488-44,758
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