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Purely recording for my own interest. Using an arch tool and extending to the advanced side, it looks like the bottom wicks are slowly turning up in the arc. Several points seem to touch or almost touch the arc. I don't give this any weight at all, just recording for interest. If the line is not broken in the box it would suggest 6100 is the lowest the price could ...
On the daily charts there appears to be a trend line that is holding. If this dip was a correction to the trend line we could hit $11,500 around the 22nd May. Next serious resistance could be at around 10,290. Of course there is the main psychological barrier of 10K, which I expect to be past at some point, even if it is strong whale push, or liquidation fuel that ...
I think we could test a new double bottom at around 6072 ish with a small bounce before deciding if heading back into a recovery phase, or plunging to be a new lower low below 6k.
I'm newish to TA and often out on timescales. Working on it :)
I think there is a chance that after some small drops we could test 9K and if we can break around 9030-9050 make a push farther up. If not i think we will drop back to regroup.
Potentially slightly more down to complete the death cross with the 50 and 200 ma. Could a reversal follow shortly after? Let's hope so!
Still trying to improve my TA. Trying to keep it simple, it seems easy to end up with a million indicators etc. Drop to 8400 to 8500 dollars (6850-7000 euro range). I'd expect a small amount of sideways before heading back up
Trying to think positive, and hope that the price bounces off the trendline and heads back up again for another wave.
Possible trend line for drop could show drop to $8900 ish?
Following trend lines and the 50 ema, i wonder if we would bounce off of $11700 ish and back down towards the ichi cloud.
Still new, more visualising my ideas as I learn TA.
The 50 and 200 EMA look set to cross in a downward trend. This would also follow the trendline. If it goes above the cloud it could me more positive. New to charting, just testing ideas.