@everyone :construction: BTC caution zone :construction:
OK, there is a LOT going on @here with this chart
if it crossed above 33k then the bearish scenario is gone
If it crosses above that blue line the bearish scenario gets weaker because it would have to trade sideways before it can get the chance to drop again
up on the top is the elliott structure laid out in a simple FIB format
can it double top at 30k before dropping? - yes and no
if it breaks that blue trend line this will continue to run up
however... the elliott structure is still good up until 33k because this cannot cross above the bottom of wave 1
OK, there is a LOT going on @here with this chart
if it crossed above 33k then the bearish scenario is gone
If it crosses above that blue line the bearish scenario gets weaker because it would have to trade sideways before it can get the chance to drop again
up on the top is the elliott structure laid out in a simple FIB format
can it double top at 30k before dropping? - yes and no
if it breaks that blue trend line this will continue to run up
however... the elliott structure is still good up until 33k because this cannot cross above the bottom of wave 1
KRJcrypto