At this point there many bearish factors to consider and sentiment is overall bearish, which means good for a market reversal. I am quite sure this isn't the end in the near future, so the opposite will happen. BTC has crossed all ema's to the downside, but rather too quickly. Now we're hovering right below the 21 ema, and I think we will see a soon visit of all the previous 200/100/50 ema's reverse. If we can consider this a correction, then a ABC correction would be ended with an extended C wave. If we would be really bearish then a 5th wave to the downside will happen to below 20K levels, but not probable to me. Target of 50K usd is in my opinon possible in the next week or 2 and revisit of ath.
코멘트
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so, how about target reached exactly, just it took a little longer...
코멘트
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we had an inverted H&S as well, but on a longer timeframe..
I agree with you, honestly the most honest chart here, all these indicators on most of the people above look like kindergarten drawings
ich1baN
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Very interesting - both macro structures - the large descending wedge and the large wedge are both bullish structures. Everyone is screaming bear and 20k atm so seems ripe for a reversal