Bitcoin - Hit of a Strong Trading Channel - 7 May 2022
KRAKEN:BTCUSD in the past 3 weeks was in a really tight range of 8% and 2 days ago dropped significantly breaking the strong support at $37'500 and was stopped 24H ago on major dynamic support from W time frame.
What is the supported thesis technically for the expected scenario on Bitcoin?
- there are two potential scenarios one with 25% probability and one with 75% probability
- If the price breaks even with $100 this yellow line - probabilities for a drop to 32K will be 75%
- The MACD indicator hits low points and soon will start forming
- Accumulation on bigger time frames supports the thesis that this is still a connection between major 4 and major 5 wave
- Don't over-react the situation still nothing so scary
If you have any questions related to this trading idea I will be happy to provide you with answers.
What is the supported thesis technically for the expected scenario on Bitcoin?
- there are two potential scenarios one with 25% probability and one with 75% probability
- If the price breaks even with $100 this yellow line - probabilities for a drop to 32K will be 75%
- The MACD indicator hits low points and soon will start forming
- Accumulation on bigger time frames supports the thesis that this is still a connection between major 4 and major 5 wave
- Don't over-react the situation still nothing so scary
If you have any questions related to this trading idea I will be happy to provide you with answers.
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