Bitcoins starting to curl to the downside as i predicted would happen at some point, we are coming up on a very key level which is support at 44.5k, we have already wicked below this level and since then have come back up but what i will definitely be looking for is whether we close our daily above or below this level. I feel like a pullback is due for btc and the market after running up hot, a pullback here would definitely be healthy. I think it is likely we see something like this play out, we have more support at the R1 which is now turned to support but i feel like a reasonable pullback target is the 0.3 FIB and would even be happy if we saw a drop all the way too the 38.6K support level, i think this would provide very good entry spots for longing the market. Looking at the WaveTrend oscillator we have topped out it looks like and we are just now starting to curl to the downside from the very top zone, this definitely plays into my pullback thesis as this also shows we are due for a pullback, and keep in mind it isn't uncommon. We could see some catches on supports on the wavetrend like the uptrend support ive drawn or even the midline of the wavetrend. Either way i think we are in for a pullback of some kind to cool off and build some structure and i view this as very positive because i will for sure be buying the dip at these potential great entries! Not financial advice just my opinion!
