BTC Bearish ABCD Setting up to Drop Down Towards $16,741
Recently, BTC has been showing promise to begin a macro breakout and run up to over $100,000, but even more recently on the lower timeframes, it's been giving off some bearish signs at a Bearish ABCD PCZ that we could actually go back down to around 16.75k from here before actually beginning the true run up towards the 6 digits.
We have made three Consecutive Lower Highs on the RSI and are likely setting up for a Double Bearish Divergence on the MACD; if we come back down to test the levels of 16.7k, that would be the secondary test of the 1.618 Butterfly PCZ to which we could then more confidentially rise from.
We have made three Consecutive Lower Highs on the RSI and are likely setting up for a Double Bearish Divergence on the MACD; if we come back down to test the levels of 16.7k, that would be the secondary test of the 1.618 Butterfly PCZ to which we could then more confidentially rise from.
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