BTCUSDT $26840 Quick Update May18 2023
Price continues to consolidate below the 3D21EMA
The 3D macd remains negative
Directional target 24-22k at 0.382-0.50fib
For the trend to flip bullish, bulls would need to print a positive 2DMACD and price above the 2D21ema
As mentioned previously, the current move from 31k could possibly be the starting point of the correction phase for Wave2.
The Wave1 was from 15.5k to 31k. This could be valid as long as bulls dont break 31k.
Once bears complete the wave2 (without breaking 15.5k), will start to focus on wave3, which could be 1.618extension of wave1.
Price continues to consolidate below the 3D21EMA
The 3D macd remains negative
Directional target 24-22k at 0.382-0.50fib
For the trend to flip bullish, bulls would need to print a positive 2DMACD and price above the 2D21ema
As mentioned previously, the current move from 31k could possibly be the starting point of the correction phase for Wave2.
The Wave1 was from 15.5k to 31k. This could be valid as long as bulls dont break 31k.
Once bears complete the wave2 (without breaking 15.5k), will start to focus on wave3, which could be 1.618extension of wave1.
