Hello and welcome to this analysis on BTCUSD
In Jan 2022 it completed what appeared to be a sideways correction and activated a Bullish Harmonic Reciprocal AB=CD @ 33000.
From there it went on to give a 38% retracement till 48000 by the end Mar 2022.
The current decline is now testing the reversal zone of 33000. The next support below this is the crucial one near...
After analyzing the chart, I came to the conclusion that the trend of the uptrend in BTCUSD will continue to move towards the renewal of the historical maximum, as well as consolidation higher with subsequent growth.
There are 3 trend lines on the chart:
1. The purple trendline is a mirrored trendline of both support and resistance, giving us insight into the...