BTCUSD Trend support approximately at 24400 or so.
If that line is crossed we may be in a large corrective ABC pattern
and we can see new lower lows as BTC would resume the larger trend
down. For now we can expect a bounce at the trend line drawn.
If that line is crossed we may be in a large corrective ABC pattern
and we can see new lower lows as BTC would resume the larger trend
down. For now we can expect a bounce at the trend line drawn.
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Getting close to our target. BUT we are not buyers. We need for BTC to demonstrate it wants to move up. We are patient traders and we will wait until a new rally proves itself and a small pullback and then we can buy.
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The trend line is only a hopeful one with only one other point to create the trendline. Therefore we must pay attention to this line. If it is crossed with strength then we are not buyers and we must sell it would mean that the long term bounce pattern is corrective and we should see BTC USD return to the larger trend down.
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We have a strong bounce. This last correction is likely an ABC correction. Now we can expect a strong 3rd wave move up. This should be big!
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Simple charts, clear analysis
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I don't post very much, but when I do I post 2Equis! "I keep pitchin' them and you keep missing them boy." Foghorn Leghorn.
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Other cryptos DID NOT Follow and make a higher high. BTC is alone in this. This is not bullish for cryptos
