BTC update
Hello everyone,
I know you are all impatient as me...Lately, BTC has been boring.
As you can appreciate, we have now fully broken out the descending wedge, and BTC has been retesting the previous resistance at 55. It may still be testing it for the next day or so as the S&P 500 is also consolidating around the current area at 4550 after all this Omicron nonsense.
BTC, in the meantime, has created minor wave one, which was the initial bounce. It is undergoing a flat correction which is presented as a side wave movement, and it is creating the right shoulder, as I explained in the previous post.
I suspect there may be another test of the daily diagonal support at 55k during this evening to then free up during tomorrow and reattempt the breakout of the HnS at 59k.
Once this resistance area is cleared, BTC will be free to move to 64k, where it will find resistance, creating a minor pullback.
The last target will be at 68 with the third attempt to the ATH resistance, which will create a significant pullback to the 60k level turned support.
I expect to see the formation of a significant Inverse head n shoulder as a continuation pattern to give BTC the kick to reach 90k.
I know you are all impatient as me...Lately, BTC has been boring.
As you can appreciate, we have now fully broken out the descending wedge, and BTC has been retesting the previous resistance at 55. It may still be testing it for the next day or so as the S&P 500 is also consolidating around the current area at 4550 after all this Omicron nonsense.
BTC, in the meantime, has created minor wave one, which was the initial bounce. It is undergoing a flat correction which is presented as a side wave movement, and it is creating the right shoulder, as I explained in the previous post.
I suspect there may be another test of the daily diagonal support at 55k during this evening to then free up during tomorrow and reattempt the breakout of the HnS at 59k.
Once this resistance area is cleared, BTC will be free to move to 64k, where it will find resistance, creating a minor pullback.
The last target will be at 68 with the third attempt to the ATH resistance, which will create a significant pullback to the 60k level turned support.
I expect to see the formation of a significant Inverse head n shoulder as a continuation pattern to give BTC the kick to reach 90k.
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