Hard correction for btc in coming days. but from where?
The weekly pivot like the monthly pivot once plotted has a high frequency of being tested. Even if that is a flash crash to the level. Currently, that retrace sitting at around the 37k at this moment. So a couple things could happen
We start correcting early today and tomorrow. This is more bearish because the level is not locked in and the developing weekly pivot will get lower with the price and end up being lower than 37k
We go sideways and then correct to about that area (too easy)
We pump more before weekly close and potentially correct (the same amount) but from a higher value to a higher developing pivot.
So watching what btc does in the next day in the half will be pretty telling. Remember the levels are not locked in until the weekly closes
We start correcting early today and tomorrow. This is more bearish because the level is not locked in and the developing weekly pivot will get lower with the price and end up being lower than 37k
We go sideways and then correct to about that area (too easy)
We pump more before weekly close and potentially correct (the same amount) but from a higher value to a higher developing pivot.
So watching what btc does in the next day in the half will be pretty telling. Remember the levels are not locked in until the weekly closes
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