Price is on track to complete what we call a running triangle (wave b in the triangle has tested the beginning of wave a), which will only be confirmed once wave e holds above wave c. The long setup will be confirmed on the bull breakout.
BTC should continue downtrend today. I see 5.8k as next support line.
UnknownUnicorn5158708
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@Mudrex, Indeed, I agree 100%. Anything below 5.8k will invalidate the long setup.
UnknownUnicorn7104034
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Hi, nice idea.
I have your same view. Maybe we could retest the buyers area. the novice sellers could think that is a bearish Head and Shoulder, and they will be in trouble, But I don't think in this way. The target is still 7800 where Supply Zone is.
UnknownUnicorn5158708
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@RebeccaCoacci, I agree with your demand zone. I'm looking for price to retest support @ $5800 before taking any long entries.
BTC should continue downtrend today. I see 5.8k as next support line.