We get one red day and we call it the end of the of it all... Remember, patience, Bitcoin is moving back up.
Looking at the 4H timeframe so far we have a "V-shaped" drop and also a strong bounce, these signals can tell us of a potential recovery.
Prices moved below EMA300, the grey line on the chart, just to quickly move back up.
This can be seen as a strong shakeout, a long-squeeze, a correction, etc... The important part is to see prices resume growth.
The signals are good so far.
If we look at the , Bitcoin remains trading above EMA50 which is good.
If this level breaks, then bias can change.
For now, Bitcoin continues to look great.
The first wing in the channel is $ 8,000
The weight of the first wing causes the bat to become too tired, and the second wing, which opens up to the $ 72,000 channel, will fall down and be pulled into the $ 8,000 channel
The money triangle, which is the second wing of the bat, does not form
The 60-day resistance wave is shaky and leads to drift
Comment: Small money triangles have formed, but the large triangle has not yet formed, so the last triangle will not form on channel 72,000 or later, causing an unprecedented fall in bitcoin
As a result, the second wing of the bat will be pulled to the 8000 channel due to fatigue and excessive weight. This is certain.
To rest the bat to fly higher until the end of the year and form a big money triangle