I have been eyeing at the 34k region since a couple of days, I explained in my previous analysis, the reasons why 34k is most likely to be reached before we see any further downside move. We are currently looking at a zig-zag corrective structure. BTC has been making ABC corrective waves. It recently broke the trendline and is currently consolidating below that trendline.
This calls for an amazing opportunity to enter long.
Although its possible that we see SL hunting (invalidating that Head & Shoulder) before going into Y wave, but the current price action is giving my gut feeling that we are gonna be bouncing up from here instead of doing SL hunting, since the majority is currently expecting it and waiting for lower prices to enter in any long position.
This calls for an amazing opportunity to enter long.
Although its possible that we see SL hunting (invalidating that Head & Shoulder) before going into Y wave, but the current price action is giving my gut feeling that we are gonna be bouncing up from here instead of doing SL hunting, since the majority is currently expecting it and waiting for lower prices to enter in any long position.
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