BTC/USD by Mr. L BTC has shown us now that momentum to break to the upside is just not there....
Using basic wave breakout rule methods there are two possibilities:
First one being Conservative and second being a 1:1, These should be the expected prices once we break down.
We are still in a downtrending channel which we have yet to breakout of. With volume being deadlow after each rise history repeats itself that we must see further down.
Please note that we have broken down fully out of the bigger squeeze that progressed from early march till now. Simple Breakout TA on this suggests for 1500 price this year as i posted in one of my previous posts but i doubt Miners and whales will let that happen as it can critically damage crypto for the near future.
There is also one last Possibility that we are experiencing a 5 wave correction pattern. This is bullish because this means that this is the last wave down, which is usually an overthrow.
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