Hello, everybody!
I think most of traders now have the bearish outlook on
BTC
. In general, we agree that price will reach new lows, but funding rate now is negative, which means nobody believes in any bounce.
At the same time looking at the price chart we can see that BTCUSDT has almost finished the wave 1 of the last bearish wave. This wave consists of 5 Elliott waves. Now it looks like wave 5 is about to be ended. Of course, we need a little bit more candles, but Awesome Oscillator is showing the bullish divergence.
If wave 5 has been ended, the correction is gonna be finished at $28600 at the 0.61 Fibonacci retracement zone. This target reaching seems logical also because of local high next to this level.
Best regards, Skyrex team
__________________________________________________________
🔥Please, follow us and smash the rocket🚀 button to support us🔥
I think most of traders now have the bearish outlook on
BTC
. In general, we agree that price will reach new lows, but funding rate now is negative, which means nobody believes in any bounce. At the same time looking at the price chart we can see that BTCUSDT has almost finished the wave 1 of the last bearish wave. This wave consists of 5 Elliott waves. Now it looks like wave 5 is about to be ended. Of course, we need a little bit more candles, but Awesome Oscillator is showing the bullish divergence.
If wave 5 has been ended, the correction is gonna be finished at $28600 at the 0.61 Fibonacci retracement zone. This target reaching seems logical also because of local high next to this level.
Best regards, Skyrex team
__________________________________________________________
🔥Please, follow us and smash the rocket🚀 button to support us🔥
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Access free SmartTrade terminal and automated AI bot at app.skyrex.io
