Hello friendz,
We are here with an update on BTCUSD. The last 3 BTCs updates have been spot on - this one will probably also be nailed. Remember guys, we are here for you. we have not come with bad news, nor does i come with goods news. weonly brings the truth to the crypto community!
Let us begin. We are here taking a look at the 4h BTCUSD chart. As D4 before has described we finally not long time ago managed to get out of the descending channel . We predicted the inverse HS pattern , which let us through in the second attempt.
We got the way up to 11,3k, as we also predicted in an earlier post. Not so long after BTC had an expected pullback. We are right now at around 10,7k. Seen from a psychological point of view this is really not a good place to be in for the BTC-holders. There are not that many new buyers right above 10k.
The bulls has lost a bit of momentum, which the bearish MACD-cross indicates. Also take a look at the volume bars. 3 red bars all above the MA20 volume . The RSI shows its soon overbought.
We thinks we need to go down under 10k again, to get up again. We have more buyers under 10k and we need that long jump and momentum to get us up, up up... and way over 10k. We made a Trendbased Fibonacchi Extension to figure out where we are heading.
We also made the Elliot Wave counts, and if we look at wave 3 we still need a bigger retracement which will let us down under 10k. But only for a short time. We will hereafter go even higher to about 13k -1.06% .
PS. Just to be clear. We are not saying that we will go down right after this post is made. We might go a little bit higher before we go under 10k.