BTC exactly hit target 4 (see image) according to a previous study.
Notice that we are finishing Elliot wave 5, according to the Elliot channel formed from the top of wave 1 and wave 3, sedimented by the eclipse in the image. We have entered a region, therefore, which, according to this theory, the bullish cycle that comes from the breaking of the historic top, may be coming to an end.
Now, big institutionals and the rest Big players may want to make a profit and start an asset correction.
It is also possible that bitcoin seeks all the Fibo targets indicated in the image to start correcting, but technically, the zone is now in darkness, everything will depend on market sentiment (keep your finger on the trigger or put stop gain if you have positioned).
An extremely important point that I want to draw everyone's attention to is the BEARISH DIVERGENCE formed on the weekly chart. Note that in the graph there are bottoms and ascending tops (channel in blue - featuring upward movement), and in the OBV (volume indicator), notice that making tops and bottoms descending (channel in red), thus characterizing a divergence that refers us to an idea of trend reversal, that is: from high to low !!!
So be very careful, because if the king decides to fall, he takes all altcoins with him. In other words: if the BTC starts to retract more intensely, realize the profits and stay in FIAT currencies (BUSD, USDT, GBP, EUR, DAI, etc.).
And how far can bitcoin fall? The planning of the entire existing review, I think a severe correction can take us to $ 30K, at least as an initial guess. But the correction should be better evaluated after the formation of the downside pivots, in due course.
Protecting capital is the best type of operation that exists! The profit is a consequence of a well done analysis.
Let's go together!!
Notice that we are finishing Elliot wave 5, according to the Elliot channel formed from the top of wave 1 and wave 3, sedimented by the eclipse in the image. We have entered a region, therefore, which, according to this theory, the bullish cycle that comes from the breaking of the historic top, may be coming to an end.
Now, big institutionals and the rest Big players may want to make a profit and start an asset correction.
It is also possible that bitcoin seeks all the Fibo targets indicated in the image to start correcting, but technically, the zone is now in darkness, everything will depend on market sentiment (keep your finger on the trigger or put stop gain if you have positioned).
An extremely important point that I want to draw everyone's attention to is the BEARISH DIVERGENCE formed on the weekly chart. Note that in the graph there are bottoms and ascending tops (channel in blue - featuring upward movement), and in the OBV (volume indicator), notice that making tops and bottoms descending (channel in red), thus characterizing a divergence that refers us to an idea of trend reversal, that is: from high to low !!!
So be very careful, because if the king decides to fall, he takes all altcoins with him. In other words: if the BTC starts to retract more intensely, realize the profits and stay in FIAT currencies (BUSD, USDT, GBP, EUR, DAI, etc.).
And how far can bitcoin fall? The planning of the entire existing review, I think a severe correction can take us to $ 30K, at least as an initial guess. But the correction should be better evaluated after the formation of the downside pivots, in due course.
Protecting capital is the best type of operation that exists! The profit is a consequence of a well done analysis.
Let's go together!!