This long red candle in this position tells me it is an emotional move, and the price hasn’t enough momentum to continue the downtrend. In addition, we have lower lows on price and higher lows on the RSI ; yes, we have divergence on RSI .
So don’t rush to open a sell position.
In my opinion, the price trend will reverse and go up. The first target is $44.5K.
Bitcoin (Macro) Elliott Wave Theory Analysis. Bitcoin all time history index INDEX:BTCUSD Eloquent Good afternoon peoples; Thought I’d share my macro outlook on Bitcoin with you all. This particular count has been one of the […]
Bitcoin 12H TA : 05.18.22 (Update) Bitcoin / TetherUS BINANCE:BTCUSDT ArmanShabanTrading As you can see, the price is still in the decision range (Trading Range or Sideway Zone) and the buyers did not have enough […]
ANC possible actions Anchor Protocol / Tether KUCOIN:ANCUSDT AMF_2416 According to the drawn trend lines , ANC could be going through two possible patterns ; either a break-through or a retest. It can be decided […]