Imo if we break 45k support then i'll be expecting a bounce on 40 level. I am very bullish on BTC. GOOD THINGS ARE COMING STAY BULLISH.
We need bitcoin to start taking small steps like getting above 21 WEMA and start making new HH. With S&P making new ATH and Dow almost as well, is a positive sign for bitcoin imo. i strongly believe soon we should see a new HH and continue with the bull run. The bulls will take over 2022 :)
Current pattern does look like a H&S , i want to see BTC break above 60k resistance to be in the safe zone. I'm still bullish on BTC so i think this is just the last leg down of the correction.
If btc make a new LL that could take us down to 39/37k level. comment for any questions.
details below in the chart, Comment for any questions.
Holding on support, wave 4 perfectly touched and hold on the 0.382. I believe we are in a flat correction. Break above 60k will hype up the bulls and we could continue with the bull rally. Moving below 0.786 (56k) could take us down to 53/50k level.
My second count on shiba. strong hidden bullish divergence showing on the RSI. I'll turn mega bullish if we close a daily candle above 0.786.
imo the current correction could complete around the end of this months. If we break 0.786, this correction could have been the larger wave 3 count and we should anticipate another impulsive wave.
Was patiently waiting for this small correction (cool down). btc most likely end the correction around 56k and continue higher, however imo the lowest we could go is 50k around 0.618. I personally don’t think we would go low as 50k but BTC is a monster.
I’m confident to say wave 5 is now completed ✅ and now we are into larger wave 2 correction. My first/main target is between 21 & 34 DEMA 🟣⚪️ My lowest target would be at 1.618 fib ex around 000022. Remember not financial advice. Other recent posts for more shiba info.
There is bearish divergence on the RSI & volume. This could slow down the momentum and not let shiba get to 00005. My next target is around 000042 which is at 2.618 fib ex. Still waiting for the daily close.
It does look like a triangle, still waiting to complete wave (E). Or this could be a break of triangle and a retest on the trend line if you bring the upper trend line lower.
We are very close to 60k and 60k is a psychological number which most likely act as strong resistance just like the start of the year with strong wick rejections. If rejected we could drop to 50k more details below.
The odd are increasing that we’ve potentially completed the correction and this rally right here most likely is the new trend. I have another chart to show you guys which is good to always be cautious to a potential drop.
I feel like before completing wave 5, might get a (ABC) correction, but with all the fomo if we break 0.786 i'll say wave 4 correction most likely is over.
Easy 50k resistance break for bitcoin however ALTs failed to break resistance and head lower creating divergence. Imo btc could drop lower or slow down.
Imo i don't see this up leg as a wave 1 for a larger trendy wave. I feel like we are still in a correction and believe bitcoin will retest 2017 ATH (20k) before the new larger trend. Key levels to watch - 57k 0.786 FIB - 21 Weekly EMA - 34 Weekly EMA
I feel like we are in a smaller wave 3 at the moment and expecting a breakout to complete wave 5.