Hi everyone, Bitcoin is on a WXYXZ and we are now on the A wave of the Z, which should reach the bottom of the falling wedge or the descending channel.. to spot to watch for the A are : 27554$ and 25775$. B should climbing back the wedge and hit the Roof again on the B and doors are open for the Z.
Support -Daily VWAP is now at 31649$ -Daily MA50 at 29172$ -Weekly MA9 at 28781$ -Weekly MA21 is currently at 19974$ -Weekly EMA Ribbon Zone (23k to 16k) -Daily EMA Ribbon (33-29k) we are currently in the middle of it
What candles are telling us at the moment : -4H : Last confirmed Candle Inverted hammer. Continuation down.. In formation Spinning TOP .... indecision continuation down.
-1D : Last confirmed Candle GRAVESTONE...big resistance and rejection at 34.8k In formation Spinning Top with possible close under opening.. Some support presence around 30.8k and some resistance at 32.8k
-1W : Last Confirmed Candle ...bearish Doji continuation... Big rejection at 34.8k In formation Inverted Hammer... Some support at 30.8k
-1M In formation Inverted hammer or GRAVESTONE... very bearish if it confirm... big rejection at 42k Will close in 5 days.
Current KDJ situation + RSI EMA situation
-4H - very bearish KDJ but reversing a little... Bears are in control and are having the hand -1D - bearish KDJ, Bulls still in Control but they lost the hand -1W - bearish KDJ ..slowly going down... Bulls are in control but they are losing the hand
Hope this is giving you a greatr overview.
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