Right now, BTC is experiencing a correction.
If this is merely a pullback, it will rise again and break the narrow, right-descending channel.
Will the bulls truly regain control in that case?
I know that I am making assumptions on top of one another. Still, given that there is a recovery to 28k, turning back at the 1.382 retracement or a pitchfork channel (light blue) is possible, which could form an expanded flat (ABC).
The chart would then allow for a W-X reading, a price conversatio reminiscent of a WXY double zig-zag.
Although only hypothetical, such a double zigzag would answer the apparent shallowness of decline due to the head-and-shoulders breakdown.
So in my previous article, I suggested 25200 would be a key in bullish scenarios, but 28000 should also be what to watch.
If this is merely a pullback, it will rise again and break the narrow, right-descending channel.
Will the bulls truly regain control in that case?
I know that I am making assumptions on top of one another. Still, given that there is a recovery to 28k, turning back at the 1.382 retracement or a pitchfork channel (light blue) is possible, which could form an expanded flat (ABC).
The chart would then allow for a W-X reading, a price conversatio reminiscent of a WXY double zig-zag.
Although only hypothetical, such a double zigzag would answer the apparent shallowness of decline due to the head-and-shoulders breakdown.
So in my previous article, I suggested 25200 would be a key in bullish scenarios, but 28000 should also be what to watch.
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.