BTC looking for a breather b4 a deep dive in search of bottom
Updated
To simply consider chart patterns that have inherent considerations for demand and supply zones...
BTC is looking to form a rising wedge (it's still in its nascent stage but the structure is becoming visible) which can get extended to 40K Zone if we are being optimistic...
At the end of this wedge, we will see a fall to sub 20k levels and wicking to all those zones which were never filled (to keep in mind that the asset has matured enough that some early 2010+ gaps may never be visited again)... Anyway, a visit to the 17K level is very much on the cards...
lets see how this plays if that plays out.
BTC is looking to form a rising wedge (it's still in its nascent stage but the structure is becoming visible) which can get extended to 40K Zone if we are being optimistic...
At the end of this wedge, we will see a fall to sub 20k levels and wicking to all those zones which were never filled (to keep in mind that the asset has matured enough that some early 2010+ gaps may never be visited again)... Anyway, a visit to the 17K level is very much on the cards...
lets see how this plays if that plays out.
Trade active
Well... It Sank from the point we were looking for a breather ... those who shorted Congrats... those who looked for higher entry to short (including me), well there is always a new opportunity... there is a lot of Fundamental support at 20200 - 20500... I still believe we go down till 17K or below within this leg... on daily Bullish divergence has appeared... reversal can happen anytime so , tread carefully.
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