Bitcoin $BTC update
BTC
I was expecting an impulse Elliot Wave from here, but we ended up with an ABC downtrend which is soon finished. A bounce is to be expected.
Interesting scenario: we are reaching the diagonal support trendline from September 2017 (I don't think we crossed it yet)
and should it go through, there is also a horizontal support from November 2017 around 6k which is a stronger support zone, considering previous bounce (Feb. 6th) happened here.
This makes 2 possible scenarios for a bounce.
RSI looks like bouncing up on 30 min chart. It's a good sign but we need more volume.
No financial advice.
BTC
I was expecting an impulse Elliot Wave from here, but we ended up with an ABC downtrend which is soon finished. A bounce is to be expected.
Interesting scenario: we are reaching the diagonal support trendline from September 2017 (I don't think we crossed it yet)
and should it go through, there is also a horizontal support from November 2017 around 6k which is a stronger support zone, considering previous bounce (Feb. 6th) happened here.
This makes 2 possible scenarios for a bounce.
RSI looks like bouncing up on 30 min chart. It's a good sign but we need more volume.
No financial advice.