-Every time the price goes above 44k dollars, the bears always enter the market -We can see two downward trendline resistance which is acting heavy in the short term -The only good thing right now is BTC is holding the Fib 0.5 and 100D moving average -We will soon see a breakout direction within this week either up or down -Guys, if you are holding any trade, please make sure to follow your stop loss location -This is the time risk management discipline is very important for the past few days -Regarding the BTC Dominance level, it is currently showing strength -That is why the Altcoin space is looking weaker against the Bitcoin pairing -Only two days left before the monthly candle closes -Things are getting interesting for the coming month of October
โ ๏ธPlease always read the descriptionโ ๏ธ
Thanks for donating ๐ฐ via Tradingview coins TheDeFiPool ๐๐
`````````````````````````````````````````````` If you need help๐ don't hesitate to Send me a message here PolarHusk๐ `````````````````````````````````````````````` Trading Involves High Risk โ ๏ธ Not Financial Advice ๐ธ Exercise Proper Risk Management ๐ฑ ``````````````````````````````````````````````
Analysis: We're allowing for the possibility the recent wave 2 of (5) correction ended at 39656.42 earlier this last week. Confirming price action would ultimately come with BTC's ability to exceed 48791.96. A move above here would rule out a continuing correction in wave 2.
Bottom Line: Watching for evidence of a wave 2 bottom.
Outlook: It's possible to consider the wave 2 low in place at 39656.42. However, we'll want to see BTC exceeding the 48791.96 key level in a five-wave pattern to bolster the case. A larger double zigzag correction for wave 2 can't be ruled out unless BTC can exceed this key level.
Analysis: The current recovery is looking increasingly like a corrective retracement, which cautions us not to be too bullish until we see the corroborating price action. The Alternate double zigzag count for wave 2 remains very much under consideration unless we see stronger five-wave advances that aren't easily sold into. Pullbacks should also be corrective.
Like !
โโโ
Thanx