Another bear trend Elliot wave, this one on the daily and the bottom is not as low.
Bitcoin has been doing a steeper downtrend leg with a less steep consolidation leg, as shown by the Elliot Waves. A possible steep leg (spanning 7/10-7/17) and a less steep consolidation leg (spanning 7/20-7/30) might be visible on a larger scale. Bitcoin might be ready to start a steeper downtrend leg soon.
Possible multi-week wedge on the daily chart. Two possible bottoms. Pay attention when it approaches borders.
Once bitcoin does a .5 peak retracement, it often goes down from there, until it bottoms out and starts another peak. If this is true for this peak, then the .5 retracement at 11k should continue to downtrend until it reaches the bottom at 7.8k-9k.
Consolidation areas on the 4 hourly.
At the end of a wedge, will more likely break a two week resistance than a two month parabolic support.
A possible hugging of the parabolic support for a couple days before a down trend.
A close above 10k would lean towards a bull trend reversal, a close below 9.9k would lean towards a bear trend continuation. However, if it leans towards a bear trend continuation, then it would have to attack the parabolic support in the next couple of days, which would be a feat.
Possible breakout, bullish and bearish scenario.
Bear trend fib retracements from 4k, 6.4k, and 9k.
Key fib retracement levels on the daily chart.
Possible ranging in 9.9k-9.7k in the 15 minutes scale.
Look for possible breakout, likely upwards, if candle goes outside of support/resistance.
Possible bear trend scenarios on the daily chart.
Possible ascending broadening wedge