Short

BTC Bear Market Scenario

Updated

BTC may have just finished a countertrend wave 2 in a decline which may terminate around 3500. The 5000 is viewed as minor support as it doesn't complete a motive 5 wave.

Rejection is around 6900.

Note

We are now in the rejection zone. If we close above 6900 on the daily, a new study needs to be made.

The previous rise to 6800 may have been a spike reversal and we are just now finishing the counter trend correction.

diatche

Also on:

Related publications

BTC 6 month triangle

by diatche

BTC Countertrend Scenarios

by diatche

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.