Bitcoin - Breakdown coming
We are one month into this price range without any resolve.
Rectangles typically break upwards. We did have a breakout but ended in a false break.
Now a pre-breakout structure is forming with price moving steadily towards bottom of the rectangle.
IMO breakdown is coming within the next few days.
Rectangles typically break upwards. We did have a breakout but ended in a false break.
Now a pre-breakout structure is forming with price moving steadily towards bottom of the rectangle.
IMO breakdown is coming within the next few days.
Note
Now to see if the breakout holds.Note
Corrective wave ABC looks completed. Last chance to short IMO.Note
Daily Chart rejection.Note
Wave 3 / C is action. Give price another 2-3 weeks before a swing low (wave 5:3 or 5:C) is formed. Likely around 24-25k region.
Note
We should be in Wave 4 now. No change to target. Invalidation above 28.6k.
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.