If you are confused about the chart today, this is where you want to be.
We were doing well and breaking the resistances and why did we dump now and where we are going next?
The summary is,
Short-term - I am bearish to 35 000USD level
Med-term - I am bullish to 48 000USD
Long-term - Bull market
On the top chart, this chart didnt change from our previous analysis where we highlighted the bearish case that we have just completed the 12345 and ABC. If key support do not hold, we will break 30 000USD and dump to 20 000USD level.
However I am only short term bearish, I expect the price to correct to 36500, 35000 and 33800USD these three levels and bounce off them and jump to 48 000USD before the next big correction. On the chart at the bottom, we can see the completion of an impulse wave going up, we have counted 12345 going up and now its time for it to correct before going to break 41000 - 42000USD resistance.
In the med-term, the structure is ABCDE. We have completed A,B and C wave, we need the D wave coming down before last wave up for E. So what invalids the analysis? If we close above the white trendline again on the 4h time frame, we will go further up. Also if we break 33 000 USD level without a quick recovery. We will break 30 000USD most likely this time and dumping to 20 000USD level.
Hope this gives a clearer picture.
LZ
Not financial advice.
We were doing well and breaking the resistances and why did we dump now and where we are going next?
The summary is,
Short-term - I am bearish to 35 000USD level
Med-term - I am bullish to 48 000USD
Long-term - Bull market
On the top chart, this chart didnt change from our previous analysis where we highlighted the bearish case that we have just completed the 12345 and ABC. If key support do not hold, we will break 30 000USD and dump to 20 000USD level.
However I am only short term bearish, I expect the price to correct to 36500, 35000 and 33800USD these three levels and bounce off them and jump to 48 000USD before the next big correction. On the chart at the bottom, we can see the completion of an impulse wave going up, we have counted 12345 going up and now its time for it to correct before going to break 41000 - 42000USD resistance.
In the med-term, the structure is ABCDE. We have completed A,B and C wave, we need the D wave coming down before last wave up for E. So what invalids the analysis? If we close above the white trendline again on the 4h time frame, we will go further up. Also if we break 33 000 USD level without a quick recovery. We will break 30 000USD most likely this time and dumping to 20 000USD level.
Hope this gives a clearer picture.
LZ
Not financial advice.
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Be careful guys, US Fed talk volatiles the market
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lets see if we dump. Otherwise break 40700USD now would indicate something different.
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Taking too long to dump. Im in USDT for now
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Daily needs to close below 39 700USD, still 3.5 hours until close