Bitcoin / TetherUS
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BTC analysis 7 May 2021

143
There is a bullish divergent on the 1H
Bullish case - we test and 58000 USD area to resume bull trend.
Bearish case - we break down the symm triangle and further downside.

Right now, the price is neutral - waiting for confirmation upon breaking the triangle pattern.
Nota
Retesting 58000USD as expected
Nota
syot kilat
Nota
Break 58000 on 1H
Nota
syot kilat
Nota
Here we go
Nota
syot kilat
Nota
We unable to break 59000USD on the 4H timeframe.

looks like 5 waves are complete, not worried as long as 56000USD holds for the correction.
Nota
syot kilat
Nota
Upward channel
We need to break here on higher timeframe.
Nota
syot kilat
Nota
It did bounce off 56000 area as expected, however it started to form a leading diagonal that leads to a larger correction.
Nota
syot kilat
Nota
This would be the bearish case if we break 57000USD
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