BTCEUR, MACRO ANALYSIS, COINBASE PRO
In this first level analysis, a defined triangle is highlighted.
BTC is in a macro wave that resumes the motion of the previous one but with lower values and it is foreseeable that it will continue to go down to the level of the main supports.
If in this descending phase the Maxima will be lower than the Minima then we will be in a BULLISH FLAG PATTERN (highlighted in the triangle). If the trend of the intervals between Max and Min decreases as it proceeds downwards then we will see a very marked Bullish that will start in the area corresponding to the BUY ZONE or perhaps even earlier.
Otherwise, a fall may occur up to the lower support (B). I think this second option is unthinkable because I don't think any of the traders are willing to sell their BTCs below cost.
- So scenario (A) is more likely to occur.
BTC is in a macro wave that resumes the motion of the previous one but with lower values and it is foreseeable that it will continue to go down to the level of the main supports.
If in this descending phase the Maxima will be lower than the Minima then we will be in a BULLISH FLAG PATTERN (highlighted in the triangle). If the trend of the intervals between Max and Min decreases as it proceeds downwards then we will see a very marked Bullish that will start in the area corresponding to the BUY ZONE or perhaps even earlier.
Otherwise, a fall may occur up to the lower support (B). I think this second option is unthinkable because I don't think any of the traders are willing to sell their BTCs below cost.
- So scenario (A) is more likely to occur.
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As I expected Btc is checking the support. Be Careful and Stay tuned.
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This trend reversal attempt seems to have failed. To see. Rest of my convictions with respect to the general strategy.
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