Support at the lows of this consolation pattern. Look for bounce of this level if BTC bottoms out. If BTC continues dump. Look for it to melt down to $18 to $19.
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As stated before, several people believe the Wycoff Accumulation patter is playing out. So far, since yesterday we've seen the first leg up which could means we could see a retest of the $31'000 support level either today or tomorrow. To back a downward move before shooting to the upside, we could be seeing a Bearish Harami playing out in the 4H candlesticks, this...
Some BTC holders believe there is huge manipulation in the crypto markets right now and as a result of this, the Wycoff Accumulation Schematic has been spoke about a lot and some believe we are seeing this play out in the charts. If this is the case, this is my take on what we could be seeing play out for Mid-July. This next month is huge for the BTC price and...
Just broken out of the rising wedge, could see a bearish playout from this. Looking at a potential 22% correction ($30'000 price target). Which comes from the measured move and the macro trend line upwards. Also near a fib retracement level of $28'000 so when we are near to hitting the target there could be some huge buying pressure.
Potential rising wedge forming on the 4hr time scale for BTC/USDT. Paired with a potential bearish cross on the MACD (lagging indicator) and the psychology of coming into the pattern from a sustained downtrend. BTC isn't overbought on the RSI however so we still could see a bullish breakout, looks unlikely though.
