The 2 months long bearish triangle is coming to an end, so the price must take the decision of where to go. Personally I think the most likely way is to the downside, because
WAVESBTC
went in a bubble and very likely it did not find the bottom yet.
The next levels of price to watch for a likely bounce are 60k, 50k and 40k satoshis. Those levels have been important in the past for the price and they also coincide with Fibonacci levels.
After a breakout of the bearish triangle, it is important to look at the 60k level for buying opportunities, because it is very likely that the price will eventually re-test the bottom of the triangle at 69k. After that, a continuation of the drop is probable.
When will the breakout happen? Probably within this week.
Stay tuned for more updates.
WAVESBTC
went in a bubble and very likely it did not find the bottom yet. The next levels of price to watch for a likely bounce are 60k, 50k and 40k satoshis. Those levels have been important in the past for the price and they also coincide with Fibonacci levels.
After a breakout of the bearish triangle, it is important to look at the 60k level for buying opportunities, because it is very likely that the price will eventually re-test the bottom of the triangle at 69k. After that, a continuation of the drop is probable.
When will the breakout happen? Probably within this week.
Stay tuned for more updates.
We can as well break 50k to bottom at 40k.