One more wick for BTCUSD and then...reversal?

Every birth has a birth pain and wicking down to or below 39-40k price area would be healthy and assist a reversal narrative to 100k and possibly above

News: Kazakhstan Internet Blackout Hits Bitcoin (BTC) Mining and Kosovo banning crypto mining (yeah...good luck with that XD)

Technicals:

• Super Trend on the daily is bearish and a wick down to 39-40k area
  
• 2 Week Super Trend is flat as was the case before the previous run-up
  
• Weekly RSI 30 is not below 50 and reversal occurred previously at this level
  
• Weekly and 2 Week MACD is resetting for momentum to flip
  
• A new false H&S fractal is forming and could conclude. This was the case in July 2021 before the reversal all the way to the new ATH in Nov 2021
  
• 78 WEMA has previously acted as support and would correspond to a reversal wick around the expected support price area of 39-40k
  
• 2 Week Vortex Indicator has a green cross indicating reversal but could do a false dip for the reversal wick before rebounding
  
• Log fib retracement indicates =-87-100k price target
  

Expected time estimation: My best guess would be a run-up starting anywhere from the beginning of Feb-Mar and ending in late April/early May as was the case for 2021

Happy new year and good luck to everyone in these interesting and exciting times

Kommentera:

Happy to see it drop. Imo it could drop all the way to +-35k USD

Kommentera:

Let's see if we get a slight reversal from the MMs or a further bear flag down

Kommentera:

Price has reached the green support trend line for BTC indicating a potential buy opportunity

Kommentera:

Be cautious and set tight stop loss in case a further drop for double at 30k

Kommentera:

Green trend line hit, let's see if we drop further or wick here hmmm...