BTC Wave ii
What an interesting ride down it has been.
At this point in time I believe there is a strong chance wave ii has completed.
For now, some key levels to watch for signs of significant upside strength in the market:
(1) ~ $7400 where the market found some support before rocketing on Xi news
(2) $8000-8100 level (support/resistance zone) & approx. 200D EMA
(3) $9300 - $9500 range, where the market truly began it's descent after falling through support that had held for nearly 4 months
Many are expecting the chop between $6800 - $7500 to go on longer. I will begin to dig for a better picture of the EW count once the market has asserted above the high end of this range.
At this point in time I believe there is a strong chance wave ii has completed.
For now, some key levels to watch for signs of significant upside strength in the market:
(1) ~ $7400 where the market found some support before rocketing on Xi news
(2) $8000-8100 level (support/resistance zone) & approx. 200D EMA
(3) $9300 - $9500 range, where the market truly began it's descent after falling through support that had held for nearly 4 months
Many are expecting the chop between $6800 - $7500 to go on longer. I will begin to dig for a better picture of the EW count once the market has asserted above the high end of this range.
Related publications
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.