This analysis based on SMC but I used a little classic technical
in HTF;1W BTC chart we should have first a little bullish trend to ~37k then main bearish trend to 12k or 9k if btc want go for big bullish trend, must break 48k this analysis based on AWT method :)
We are currently in a downtrend. We move down in the descending channel. According to Elliott, we are in the last wave of the big cycle correction (wave C) This wave could end around the previous big pivot (19,000), maybe a little higher! And then start the fifth wave upwards (the latest uptrend and the beginning of crypto winter)
see the chart. Bitcoin can move in these trends! So you have to wait a while to make a better decision! :D
everything shows on chart.please set stop loss for position.
a little up and then crash down. market will be bloody!