Bitcoin to $7.7kIf you are a member of the bear family you will know that we have been following what I currently believe to be an awkward 4thw ave of consolidation that will bring us as low as around $7.5k
At this particular area, we have large volume profile support, the bear claw (EMA) edges are all aligned and the 21 (SMA) on this weekly chart here also happens to fall right around this are.
If we are to break below that we could assume that this was, in fact, a wave 5 and not a wave four which could bring us lower, but for now, I am staying optimistic that this is a consolidation wave before a slight push higher to come out of the 5th wave. Its been one hell of a ride and we have been steady on this idea for the last three weeks, Noting has changed, except, we thought it was time to share it with the Tradingview community!
Thank you for following along, I know this is not a super in-depth analysis, but I am learning to get better at this area to publish content, and, hopefully, we will have another full-time analyst join the team to help keep this area of the bear family up to date!
Leave your thoughts about what you think is going to happen, I love when we can share out thoughts!
