BitcoinUpdated Posible AB=CD
AB=CD is a bearish pattern
After the impulsive down move from last week i do expect a bearish reserval in case we will reach point D from here, in case it happens i expect at least a 50% retrace from AD.
In case the price will stabalise just below point D and rest there for a while i would not short D anymore because often it just breaks. In case it will break i do expect a re-test for either enter a long or remove the short.
After the impulsive down move from last week i do expect a bearish reserval in case we will reach point D from here, in case it happens i expect at least a 50% retrace from AD.
In case the price will stabalise just below point D and rest there for a while i would not short D anymore because often it just breaks. In case it will break i do expect a re-test for either enter a long or remove the short.
Note
D is holding as a support but also the price is accepted instead of rejected. Bulls want to do business at higher levels from here.
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Just like the chart whas telling us, the green scenario is the most likely.17500 is on the radar!
Note
well well well... orange is the new green i guessimho the bigger picture weakens if this thing falls below 13000
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