BTCUSD bearish analysis
Bearish count for BTCUSD; I would say this is contingent on equity top at or near completion.
What a chop-monster since March 2024... this count envisions an expanding leading diagonal ((A)) forming.
While this count may not be the most likely, it does provide a low-risk/high-reward opportunity to the downside.
If price gets above 68926.01 but 71939.10 holds as resistance, then target wave 5 looking at 50-52k area.
Again, I think this move would require concurrent sharp drop/high volatility move in equities.
What a chop-monster since March 2024... this count envisions an expanding leading diagonal ((A)) forming.
While this count may not be the most likely, it does provide a low-risk/high-reward opportunity to the downside.
If price gets above 68926.01 but 71939.10 holds as resistance, then target wave 5 looking at 50-52k area.
Again, I think this move would require concurrent sharp drop/high volatility move in equities.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.