BITCOIN update analysis
Updated
Hi traders, last week we saw expected push to the upside on bitcoin, but after that price made pullback again, which for me is showing that price isnt ready to push higher. So i i change my view a bit, i still expect that push to 27k area to complete that flag, since we have A-B wave at the moment, so we need third leg so complete this pattern. So as you see price is forming bearish price action. I already have one short posittion secured with be, from 34760 but i expect price to make bigger correction. So wait for price action to complete before selling! I will update below price action for better understanding! Stay patient!
Note
wait for price action to complete before selling!
Note
Price is pushing higher as we want to complete that correction. Price break previus low in that correction so pattern changed into possible expanded flat. I want to see break of previus high in that correction to confirm expanded flat pattern. So price needs to break above 34.800, and for me fist interesting area to watch will be around 35.000 at fib 0.382. After that watch for strong breakout
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