Few things that indicate BTC is looking to make a trend down to critical support zones.
4H candle is now comfortably below 20EMA.
December 12th marked when we had closed above 20EMA. After that we can see a huge bullish trend following.
We can expect the reversal for that now.
Elliott wave completion followed by correction wave. It is possible we are making the last leg down, but still hard to confirm if previous waves where done.
Critical Areas:
Local Support at : $30,000, closure below this level will confirm further downward trend. (purple line)
Trend Resistance: 33500 area (current). Closure above this trend will result us in to 35,000 ATH retest. (stronger bullish indication) (black dotted line)
Critical Horizontal Supports: 25,900 & 22000. This area would indicate a perfect re-buy zone for BTC.
If we happen to close below 19,850 this will be confirmed bearish trend. (highly unlikely)
Please like & follow if you agree! <3
4H candle is now comfortably below 20EMA.
December 12th marked when we had closed above 20EMA. After that we can see a huge bullish trend following.
We can expect the reversal for that now.
Elliott wave completion followed by correction wave. It is possible we are making the last leg down, but still hard to confirm if previous waves where done.
Critical Areas:
Local Support at : $30,000, closure below this level will confirm further downward trend. (purple line)
Trend Resistance: 33500 area (current). Closure above this trend will result us in to 35,000 ATH retest. (stronger bullish indication) (black dotted line)
Critical Horizontal Supports: 25,900 & 22000. This area would indicate a perfect re-buy zone for BTC.
If we happen to close below 19,850 this will be confirmed bearish trend. (highly unlikely)
Please like & follow if you agree! <3
