BTC - Will it enter the land of FUD & Panic ?
BTC/ USD
Bitcoin has broken out of my channel and is currently held by strong support but still headed towards the bearish dump line.
If the bearish dump line breaks we will enter into the land of FUD & Panic. Expect people to sell out of their positions quickly to buy BTC at a lower price point.
8k -6.5k is the target if that happens.
Elliott waves aren't drawn on the chart but from the looks of it, we are currently in the B-C wave in the 1 Day chart. I'll attach an image in the comments.
Bitcoin has broken out of my channel and is currently held by strong support but still headed towards the bearish dump line.
If the bearish dump line breaks we will enter into the land of FUD & Panic. Expect people to sell out of their positions quickly to buy BTC at a lower price point.
8k -6.5k is the target if that happens.
Elliott waves aren't drawn on the chart but from the looks of it, we are currently in the B-C wave in the 1 Day chart. I'll attach an image in the comments.
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1 Day outlook
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I made some adjustments to the 1 day Elliott wave just to give another outcome.