Another Day - Another Bearish Gartley on Bitcoin
We need to cross 11250 to confirm the start of wave 5 of an up trend but Bears are seriously pushing back. We will need a pump with high volume to breach this level.
For now, we are still correcting in wave 4 and we have some sort of a flat ABC wave structure. The correction is not complete yet - expect another leg down to C, wave C = 100% of wave A
And we're in an up channel that is sort of a bear flag. Another reason to go short.
Another 0.618 Bearish Gartley predicts a down move to at least 0.618 of CD (10575) (B breached, D triggered -> move to C is anticipated)
We are also oversold on RSI M15 and there's a bearish divergence on RSI M5 all predicting a possible move down.
Good Luck!
Please don't trade based only on my analysis. This is not a financial advice, I'm not responsible for possible losses.
For now, we are still correcting in wave 4 and we have some sort of a flat ABC wave structure. The correction is not complete yet - expect another leg down to C, wave C = 100% of wave A
And we're in an up channel that is sort of a bear flag. Another reason to go short.
Another 0.618 Bearish Gartley predicts a down move to at least 0.618 of CD (10575) (B breached, D triggered -> move to C is anticipated)
We are also oversold on RSI M15 and there's a bearish divergence on RSI M5 all predicting a possible move down.
Good Luck!
Please don't trade based only on my analysis. This is not a financial advice, I'm not responsible for possible losses.