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lucian136

BTC way forward 20 May 2021

Short
Bitcoin / TetherUS PERPETUAL CONTRACT (BINANCE:BTCUSDT.P)  
lucian136 Updated   
BINANCE:BTCUSDT.P   Bitcoin / TetherUS PERPETUAL CONTRACT
Trend Analysis Wave Analysis Chart Patterns BTC BTCUSDT BTCUSD btcusdlong btcusdshort
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trendanalysis waveanalysis chartpattern btc btcusdt btcusd btcusdlong btcusdshort
The BTC price action is facing a resistance at 42000USD which was the previous support. The price needs to break here for further upward actions.

In the meantime, we see an ABCDE leading diagonal completed. The possible correction if the price breaks the trendline support is on the chart. This would be a correction before the next leg up.

The case is not applicable if it goes below 30000USD.
Comment:
Comment:
It is attempting to test the 42000USD resistance again.
The descending triangle on 3m timeframe looks to be invalidated.
Comment:
The momentum is still bullish. until 41400USD is broken.
Comment:
Comment:
It came down according to analysis.
We need to break 42000USD to confirm bullish trend.
Below 35000USD would be deadly to see
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