KEY SUPPORT IS DEAD : Welcome in bearish woods.
Updated
Hello guys, here some updates of my precedent chart.
The crucial point of my precedent TA didn't hold and invalidate the ABCDE bullish flag.
We clearly see now the woods of a major correction. Remember correction are healthy and that's a good time to buy more if you caught the good price.
Different scenarios are now possible :
- We could be at the wave C of an EW ABC correction that would push us to 8k area.
- We can see on the chart a descending triangle pattern who could slowly put us to 7-6k area with a possible breakdown to 4K... and yes... i think it's possible but as always it's a game of probability.
For the first time in Bitcoin history (if i remember well) the daily MACD shows a possible reverse trend in bearish zone.
RSI shows signs of bearish too.
We'll probably retest 10K before any other scenario, but i don't expect this support to hold a very long time.
It's always a pleasure to read your comments, agreements and disagreements are always welcome when there are constructive.
The crucial point of my precedent TA didn't hold and invalidate the ABCDE bullish flag.
We clearly see now the woods of a major correction. Remember correction are healthy and that's a good time to buy more if you caught the good price.
Different scenarios are now possible :
- We could be at the wave C of an EW ABC correction that would push us to 8k area.
- We can see on the chart a descending triangle pattern who could slowly put us to 7-6k area with a possible breakdown to 4K... and yes... i think it's possible but as always it's a game of probability.
For the first time in Bitcoin history (if i remember well) the daily MACD shows a possible reverse trend in bearish zone.
RSI shows signs of bearish too.
We'll probably retest 10K before any other scenario, but i don't expect this support to hold a very long time.
It's always a pleasure to read your comments, agreements and disagreements are always welcome when there are constructive.
Note
Remember i'm not a financial advisor, it's only my personal trading plan. Everyone can be wrong, TA is not a basic science. Please do your own research and play it safe. Cheers !Note
10500$ support from 22 December is now break by the 1h chart, can imply further decline in the comings hours if we don't see a bounce from now.Note
9000$ hold strongly.... the bottom can be in for today, but i expect lower lows in comings days.Note
Looks like a H&S is forming on the 1h chart, could push us to 9k area again.Note
Expected H&S in progress.Note
34 weeks WMA support at 9K1, ABC EW correction support : 8K2.Strongest support 89weeks WMA : 5100$.
Only if we break 10K.
Trade closed: target reached
Look like my chart was accurate.
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