If we look back on the previous ADAM and EVE pattern that was spotted few month ago, this pattern seems to be in strong play with price approaching its final target which also equivalent to the possible end of the rising wedge at 5800-6000$.
When this target is reach market is expected to go for strong correction.
Fingers crossed to see how this develop.
액티브 트레이드
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Actually the pattern has 3 targets which are included in the form of OABC:
first part of the target is from |OA| of the ADAM which stands for the final target of the pattern, the length of |AB| Stand for Medium Target, the |BC| is for the short target.
액티브 트레이드
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BTC exhibits potential three drive principles, with the 3 drives been completed. We have important level around 5175 to 5000$ level
액티브 트레이드
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액티브 트레이드
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What a nice update, BTC move as exactly predicted.
Good chart so thank you - we had $5,670 as a top before a correction - we'll see.
weslad
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@london55555, I think 5705 area first
NewYork888
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@weslad, Im not sure that our $5670 or your 5705 will make that much difference to the trapped retail longs buying this area once it heads back down to $3,200 They are about to get destroyed either way.
ReallyMe
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A bearish divergence on the daily reveals weakening momentum.
The breakdown is coming, if you ask me
most likely we hit 6k and correct to 5200 or so and then resume upwards... i doubt we'll ever go back to 3k levels or below 4k at all... it appears most likely bottom was 3200 and unlikely there will be capitulation.
weslad
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@blackswan, well said but if truly bottom was 3200 then there should be a last retest on it.
For now let keep playing what price action bring to us till we see next market direction.