Elon Musk and Bart Simpson are definitely allies.

14 May 2021

#BTCUSDT #4HR #Binance #Tommy
- Elon Musk is abusing the finance market. Tesla’s recent announcement that they will no longer adopt Crypto technology for their payment system, has shocked the market.
- Technically, a rounded head pattern that signals the trend reversal had been formed before a big correction. Some of the similar patterns that could be interpreted as a possible trend reversal, would be Head&Shoulder, diamond, and cup&handle.
- Anyhow, according to Binance BTCUSDT 4hr chart, Lower Low has been confirmed around 46K. This is not a huge gap so it could also be considered as a double bottom. In Elliott wave perspective, the current bearish momentum being wave C would be my major bearish counting.
- Some of the major supports are 43900~44500(Valid until 5/19 05:00), 41500~42500(Valid5/21 13:00), and 38400~39400.
- Lastly considerable resistances are located at 52300~52800, 53800~54400(Valid until 5/17 13:00), 57400~58200(Valid until 5/19 21:00), and 60500~61200(Valid until 5/23 1:00).
- All of the periodic references are in Korean standard time (UTC+09:00).

14 May 2021

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