Last support to avoid elliot wave failure
Still waiting for the 5th bullish wave, but so long candle closes don't show signs of a reversal.
On the other hand, the momentum is already oversold right at the support and many people shorting this support (see rise in BTCUSDSHORTS). Slight bullish divergence in RSI.
So we could expect another wave up from here with a target around 8.7-9k.
If the 7K support fails to hold, a new bearish trend would be installed.
So let's see how it plays out.
On the other hand, the momentum is already oversold right at the support and many people shorting this support (see rise in BTCUSDSHORTS). Slight bullish divergence in RSI.
So we could expect another wave up from here with a target around 8.7-9k.
If the 7K support fails to hold, a new bearish trend would be installed.
So let's see how it plays out.
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