Market top pattern mapped pre-Christmas.
The scenario entry targets based on 1. correction patterns, 2. BTC market top patterns, 3. Fib retracement based on April21 peak, Weekly MA (50, 200)
- $33k was a viable bounce area 0.5 - entered resistance today
- $28k was target for Expanded Flat correction 0.618
- $20k stretch 0.786
I expect we will be at the $35-38k level for a few days - If breaks up from here the scenario is obviously invalid - expecting move back up to $50k levels and sideways for the year.
Best, HF
The scenario entry targets based on 1. correction patterns, 2. BTC market top patterns, 3. Fib retracement based on April21 peak, Weekly MA (50, 200)
- $33k was a viable bounce area 0.5 - entered resistance today
- $28k was target for Expanded Flat correction 0.618
- $20k stretch 0.786
I expect we will be at the $35-38k level for a few days - If breaks up from here the scenario is obviously invalid - expecting move back up to $50k levels and sideways for the year.
Best, HF
