BTC - Continued Analysis - M-Pattern DANGER
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Continuing this analysis on the previous one; we see a double top form in the daily as well as the weekly timeframe after the price lost the 50 day moving averages.
In the previous analyses, we looked at Elliot Wave theory and a potential new ATH price zone. However, there was one risk even at that point - the M-Pattern. This pattern is BEARISH and usually leads to quite a significant drop.
The good news, though, is that this is all part of a healthy correction - as long as we hold THIS key zone identified inthe video, we are still well within a bullish market.
Previous update here, where we first spoke about the potential risk of the M-Pattern:
_____________________________
BTCUSDT
In the previous analyses, we looked at Elliot Wave theory and a potential new ATH price zone. However, there was one risk even at that point - the M-Pattern. This pattern is BEARISH and usually leads to quite a significant drop.
The good news, though, is that this is all part of a healthy correction - as long as we hold THIS key zone identified inthe video, we are still well within a bullish market.
Previous update here, where we first spoke about the potential risk of the M-Pattern:
_____________________________
BTCUSDT Not
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