After the last leg up to 21k, I see two scenarios happening in the near future.
Scenario 1, 4h chart:
- BTC goes for one last leg up to 21100 producing a higher high on the micro scale of the chart then nukes to 17k target.
Scenario 2, 4h chart:
- BTC goes to 20800 producing a lower high to the previous 21k high, and continues a downtrend. which leads to the...
BTC 4h chart just completed a reverse H&S pattern which is bullish for the short term. Above is the untouched liquidity, the price has to go up there at some point.
I have my targets between 20500-21100.
BTC has been going through this macro downtrend for months (yellow line), based on that and Fib extension from the previous high and recent low from today I can see a pump to 19800-19600 touching the 50 day moving average then a huge dump to 17k.
RLC’s symmetrical triangle is coming to an end and we might see a $1.8-$2.2RLC within a few days once it breaks out.
The target is from FIB 0.786-0.618 starting from the beginning of the upper trend of the symmetrical triangle to the beginning of the lower trend of the symmetrical triangle.
