Interestingly, it appears we have created 3 black crow candles on the 12hr Timeframe. When this appears right after a bull rally, this usually tells us that a new downtrend is in the works. By looking at the previous bull rally, we can see that this is exactly what happened.
Previously, my thoughts were that we shall be making a new high and EW wave 5 to around $8800. But I am now keeping in mind this possible bear scenario and will be watching
BTC closely over the next day or two.
Previously, my thoughts were that we shall be making a new high and EW wave 5 to around $8800. But I am now keeping in mind this possible bear scenario and will be watching
BTC closely over the next day or two.Note
As predicted in this idea, we came upon some support at the $8300 range but quickly broke through to around $7000. If we continue to follow this chart, I believe we should have a good support around $6800, but could see BTC falling again after ranging between $6800 and $7300.Trade closed: target reached
Target reached faster than expected
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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.