UPDATE to BTC BULLISH RALLY IDEA with bearish C in progress
This is an update to the following charts still in play, and playing out actually,
IF we see a strong rejection at 618 retrace of our last impulse down from 22850 to 18150, which is at the 21k area, coincidentally at the 100 daily simple moving average, I'd be looking to this count. We have had two confirmed drives of daily bull divergence on the RSI, and MACD crossing over bullishly on the daily. Stochastic RSI however is at its highs, and so how quickly it comes back down versus price is a key thing to watch for.
Overall concept considers the possibility of an ending diagonal C wave as discussed in the ideas linked above...
IF we see a strong rejection at 618 retrace of our last impulse down from 22850 to 18150, which is at the 21k area, coincidentally at the 100 daily simple moving average, I'd be looking to this count. We have had two confirmed drives of daily bull divergence on the RSI, and MACD crossing over bullishly on the daily. Stochastic RSI however is at its highs, and so how quickly it comes back down versus price is a key thing to watch for.
Overall concept considers the possibility of an ending diagonal C wave as discussed in the ideas linked above...
