At this point there many bearish factors to consider and sentiment is overall bearish, which means good for a market reversal.
I am quite sure this isn't the end in the near future, so the opposite will happen.
BTC has crossed all ema's to the downside, but rather too quickly. Now we're hovering right below the 21 ema, and I think we will see a soon visit of all the previous 200/100/50 ema's reverse.
If we can consider this a correction, then a ABC correction would be ended with an extended C wave. If we would be really bearish then a 5th wave to the downside will happen to below 20K levels, but not probable to me.
Target of 50K usd is in my opinon possible in the next week or 2 and revisit of ath.
I am quite sure this isn't the end in the near future, so the opposite will happen.
BTC has crossed all ema's to the downside, but rather too quickly. Now we're hovering right below the 21 ema, and I think we will see a soon visit of all the previous 200/100/50 ema's reverse.
If we can consider this a correction, then a ABC correction would be ended with an extended C wave. If we would be really bearish then a 5th wave to the downside will happen to below 20K levels, but not probable to me.
Target of 50K usd is in my opinon possible in the next week or 2 and revisit of ath.
Kommentera:
so, how about target reached exactly, just it took a little longer...
Kommentera:
we had an inverted H&S as well, but on a longer timeframe..