BTC just broke its structure and I’m looking at a critical support level of 18.9k. We need to see some serious holding action there, otherwise we're heading straight down to 14.9k and likely putting in a slight lower low. I think this is the most probable outcome because they are going to do everything they can to get everyone feeling bearish. The worse case scenario is 11k, but that's looking pretty unlikely given the solid support we've got around 14k. As always, be prepared.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
Comment:
We are currently at 20k and I see us going to 11k! Fomo buy if we wick to 9.6k, but I feel very comfortable buying at 11k.