Caught between the 200 daily EMA (the dark brown line) and the 100 Weekly (the light brown line - converted to the daily timeframe). And now the 14 EMA is acting as resistance also and pushing us down to the 100 Weekly. The Heikin Ashi candles show us the trend better ... bearish but still with slightly higher lows. The volume is dropping ... Expect a HUGE...
Until now only down in this descending wqedge ... but maybe we have reached the bottom and BTC will surprise us with a Big Move Up. What do you guys think? We will know within the next 3-4 hours :)
When we discard the highest top (bull trap) and connect the rest of the tops, we can see that a fourth lower high has been established and the price stayed below the border between Bullish and Bearish ... still sinking!
When the scale is set to 'log' (logarithmic) we can see that BTC is still not in the BULLISH 'safe' zone!
On the daily we see a big Falling Wedge pattern arising. The breakout will be soon ... within now and the next 3-4 days very probably. The price will probably rise with an amount of 45-50 Euro (55-62 Dollar) ... assuming that usually the rise at breakout is almost the same as the price difference between low and high price at the start of the wedge. The current...
This Elliot Wave pattern is now going down to $6,000 (4,800 Euro) according to the lines in the graph ... what do you think?
Bitcoin - and the other closely related big coins- has 2 big MAIN resistance and support lines that are converging (meeting) in the next 2-3 days. What will the decision of the market be ... UP or DOWN? What do YOU think?