Further to my earlier post (21.02.18), the formation of the Inverse Head & Shoulders pattern did form (somewhat), but so far has not produced the expected result i.e. a strong push to the upside for #BTC price to retest $11,000 - $12,000, and beyond.
Instead, my other prediction . . . 😨😨😨 i.e. the Elliot Wave WXYXZ pattern now seems to be playing out and thus in the short term, if the bearish trend continues, we could actually be heading towards $8,500 again this week.
Note that all the EMAs (21, 55, 100) are turning bearish which is not a good sign either for the bulls. Finally, so long as BTC has this uncertainty in pricing, it will have a direct affect on most other #Altcoins. For Altcoins to rise, Bitcoin needs to stablise and rise steadily but slowly.
On the bright side, swing trading this past week has been a blast! Happy trading.
Peace.
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