Updated: 2 days ago
Hi guys, I wanted to share with you my newest update on the crypto markets and again I ask you to treat this scenario unbiased. I will be looking at BTC as I "still" consider the 16k levels as the bottom of the bear market.
In my previous idea I posted the chart bellow :
Not much has developed since then, but I wanted to follow up with the updated chart, as promised:
RSI is leaving oversold area confirming a bullish divergence in price action...for now. There is still a potential bearish divergence forming that would be invalidated if price goes over 18.400$ with at least a 4h close.
Targets remain the same (46k, 84k top), we get full bull confirmation over the 25k levels with a daily close.
Bonus chart - Fibonacci levels :
According too Elliott waves rules a full retracement should occur at the max 0.9 levels. We have that now (I had a target at around 16.400$, went lower to the 15.500$ area but recovered swiftly). On this the golden pocket stands exactly at the 32.500$ level and confirms our previous analysis.
Happy hunting !
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Disclaimer : the opinions presented in our report are our own and DO NOT CONSTITUTE FINANCIAL ADVICE. Cryptocurrency trading is a very risky endeavour. You can and probably will lose your money if you do not do your own research.