BTC leg E: completing ABCDE correction (54/55K)

8 Nis 2021

BTC UPDATE// As you can clearly see in this chart BTC is still in a downtrend similar to the one we had during mid March.
BTC got rejected off 57,3K and did not break the 4hr EMA ribbon and thus did not break the down trend.
Check the orange circles; rejected the same as in March: this means we are in the last move down completing the pattern.
If we break the green trendline and support in the red circle we will complete this move towards 54/55K demand zone.

What is bullish is that this correction is less heavy than the one in March and if we set a higher low; which is likely; we remain bullish. If we do not set a higher low than in March on point E; I expect some trouble, however I do not expect this to happen. So for now I am waiting for this pattern to complete and find the bottom. Not touching alts right now either.

IMPORTANT: this is not financial advice, trade or invest at your own risk and research.

8 Nis 2021

Not

BTC BREAKOUT: this is invalidated, should have stuck with my first analysis:

10 Nis 2021

Not

BTC UPDATE: like I said 2 days ago already; BTC was on its way to breakout! Dont trade based on sentiment like; I have a short open so it will go down or vice versa (like some bears in the comments). No, you follow the trend and the trend is up and I warned all of you; long before the real action happened. So: emotions off and follow the trend. Happy days!