BTC enters correction, when to catch a falling knife?

BTCUSDT

BTC had a massive drop by $2,000 (~7%) in this morning after reached $14,000 resistance (as predicted in the previous post). This correction is needed for BTC's health because of heavy overbought of daily RSI. On the overall, BTC is still in bullish favor if it can hold above $10,300 (key support) in this correction.

We have 2 possible scenarios of BTC's next move, as drawn in the chart. Besides, the buy zone, as well as supports/resistances, are also shown in the chart.

This analysis is an update in regard to the previous analysis came to an end. The Fibonacci retracement, Pivots are employed, in combination with some technical indicators (hidden). This is not purely an investment advise.

تعليق:

A bearish engulfing candlestick pattern appeares on daily chart, indicates that BTC bearish favor can be extended and altcoins may have room to growth when BTC is in dip.

All targets remain the same.

تعليق:

BTC broke down the symmetrical triangle pattern.
A regular bullish divergence is appeared on M30 chart, indicates that BTC will have a jump to test $11,800 local resistance one more time.