BLX BTC Liquid Index may even retest W3 top@20k if 25500 is lost
BLX Bravenewcoin liquid index may for the first time retest a previous top if 25500 the 0.618 FIB EXT from the ABC top is lost. There is absolutely no support (BLANK SPACE) going down to 20000 (the 0.786 level) except perhaps the weekly WMA200 line at around 22000.
The blue neckline from the 2020 pandemic Inverse H&S will intersect 20k & 22k & thus this line may offer also some support as a retest before rally.
PLEASE NOTE that I may be wrong about this being a wave V. This expanded flat correction could just be a wave IV ABC correction. Wave V could still bring BTC to new ATH before an even bigger crash if recession plays out in 2023 or 2024.
Not trading advice
The blue neckline from the 2020 pandemic Inverse H&S will intersect 20k & 22k & thus this line may offer also some support as a retest before rally.
PLEASE NOTE that I may be wrong about this being a wave V. This expanded flat correction could just be a wave IV ABC correction. Wave V could still bring BTC to new ATH before an even bigger crash if recession plays out in 2023 or 2024.
Not trading advice