BTCUSD 1HR Elliot Waves Bullish/Bearish?
This is my first analysis ever, so please "bear" with me.
As i see it we got rejected at the 11.6k resistance and still going down.
At first we broke down through the 200 MA and we are now testing the 10.3k support. Doesn't this hold, we might see the 500 MA tested.
Do we bounce off the 10.3k support we look to finish the ABC correction and a see test of the 11.k resistance again.
I find the MACD divergence interesting. It shows higher lows on the long term while the chart has been showing lower lows. This might be the indicator to put our hopes in. Does the Elliot Waves continue, we will see 16k before medio march according to this chart.
All constructive comments are very welcome!
As i see it we got rejected at the 11.6k resistance and still going down.
At first we broke down through the 200 MA and we are now testing the 10.3k support. Doesn't this hold, we might see the 500 MA tested.
Do we bounce off the 10.3k support we look to finish the ABC correction and a see test of the 11.k resistance again.
I find the MACD divergence interesting. It shows higher lows on the long term while the chart has been showing lower lows. This might be the indicator to put our hopes in. Does the Elliot Waves continue, we will see 16k before medio march according to this chart.
All constructive comments are very welcome!
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