Bitcoin H&S DCA Targets
BTCUSD Perpetual Contract BYBIT:BTCUSD
Bitcoin is in a critical zone. It just broke below the neckline and it’s looking bearish . This chart is based off of The Elliot Wave Theory, Head/shoulders pattern, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones. The height of the head/shoulders is calling for this target which bottoms at around 17k . Coincidentally, we also a fib level that can help hold that price. We could see a temporary bounce at 23-24k (1.618) before we capitulate down to 17k . Keep in mind this will take months to play out, so don’t get ahead of yourselves. RSI and momentum are showing that a strong move to the downside is right around the corner.
