It seems two strong trendlines are coming to a clash in Bitcoin, the (red) downward trendline from the ATH and the Hyperwave phase 3 that it has been reinforced by numerous hits a long the way (Hyperwaves phases get stronger the more hits and intra-week penetrations they endure)
- Seems like the 200 MA and 50 MA on the daily candles won't be crossing before this clash occurs, so in my opinion this is a bullish sign.
- Also bullish is the fact that bitcoin has been making higher lows every time it falls (purple circles), both swing lows and candle closing.
- TD sequential count is on a 4, so that is bearish.
I've drawn two possible routes the price might take to reach the hyperwave phase 3 line by the weekly closing
I wouldn't trade right now to be honest, I'd wait for the outcome of the clashing of this two trendlines by tuesday or so.
- Seems like the 200 MA and 50 MA on the daily candles won't be crossing before this clash occurs, so in my opinion this is a bullish sign.
- Also bullish is the fact that bitcoin has been making higher lows every time it falls (purple circles), both swing lows and candle closing.
- TD sequential count is on a 4, so that is bearish.
I've drawn two possible routes the price might take to reach the hyperwave phase 3 line by the weekly closing
I wouldn't trade right now to be honest, I'd wait for the outcome of the clashing of this two trendlines by tuesday or so.
www.youtube.com/chan...xbdXt4jG9pSy79TMVQSw