BTCUSD - My Worst Case Scenario hit on target, and now.....
BTC hit on the money for the Rising wedge break-out into the Elon Candle area. Please reference the idea attached to this idea called "My Worst case scenario before bull resumption."
I think that there is a good possibility that BTC goes up and tests the 20 week MA now on a relief rally. This could potentially take us close to 46k-48k. IF that rally does not get us back into bullish territory, then I see us potentially bottoming around 25-26k.
The reason for this is that 25-26k is where the golden pocket current resides from march 12th to our current ATH. I was also able to get fib extension confluence with this from a couple of different sequences, pictured. There was more confluence, but for the purposes of presentation I won't show that on here to keep a cleaner chart.
SO, I have a potentially even worse case scenario if we can't go bullish on this relief rally, lol.
Be safe and let the market come to you. Do NOT chase it.
Thank you!
I think that there is a good possibility that BTC goes up and tests the 20 week MA now on a relief rally. This could potentially take us close to 46k-48k. IF that rally does not get us back into bullish territory, then I see us potentially bottoming around 25-26k.
The reason for this is that 25-26k is where the golden pocket current resides from march 12th to our current ATH. I was also able to get fib extension confluence with this from a couple of different sequences, pictured. There was more confluence, but for the purposes of presentation I won't show that on here to keep a cleaner chart.
SO, I have a potentially even worse case scenario if we can't go bullish on this relief rally, lol.
Be safe and let the market come to you. Do NOT chase it.
Thank you!
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