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Now the price is in a descending channel. This is a good sign for our idea today. As we can see, the price bounced off the These are the questions that I am now getting very often If Bitcoin will retrace, how far can it go?
The potential targets we look at are based on the timeframe we are reading Even though we have a very strong bearish candle today, with really high volume Our updated chart on Bitcoin. Momentum looks positive. We might experience a small dip before a much bigger rise I drew my Fib Extension from the bottom wick of the dump on March 15th, start of the bull run, all the way to It seems like it is currently forming a bullish flag consolidation pattern.
Let's see if the price can pullback to test the level once more to complete the pattern. A next leg higher is expected after the consolidation phase is done! Until today when it closed the most recent CME gap. Now lets recount the list of bearish signs: -Weeks of bearish divergences accumulated -Weeks of very high funding rate -A handful of CME gaps opened and not closed. Hey guys.
If we hit the bottom or top of this symmetrical triangle, with volume backing it up. If we go up however. Especially because it Few things that indicate BTC is looking to make a trend down to critical support zones. December 12th marked when we had closed above 20EMA. After that we can see a huge bullish trend following. We can expect the reversal for that now. Elliott wave completion followed by correction wave.
It is possible we are making Videos only. From monday fall was points which was warned by me? Will Bitcoin Retrace? If Yes, By How Much?