๐จ $BTC TECHNICAL BREAKDOWN ๐จ
(catch the Weekly Wrap up Tonight 6pm AEST)
Yes, thereโs still a bullish pattern in play. But this is where traders get chopped if they donโt pay attention.
๐ CONFLUENCE ZONE = 96K
That sits right on the weekly 21EMA + 0.5 FIB = perfect 4th wave retrace.
Another rejection at 102K could drag us there.
๐ MAJOR PIVOT = 105K
Former support, now resistance. Small bullish bounce showing, but unlikely a full reversal yet. There is also a deeper retrace of the WXY structure that is still in motion.๐ฌ
๐ WAVE PROJECTION:
โข Wave 1: 0.236 - 88.9K
โข Wave 3: 0.618-0.65 (Golden Zone)
โข Wave 5: 0.786 = 121K-122K major resistance
BLX chart confirms that 121-122K zone is huge.
(catch the Weekly Wrap up Tonight 6pm AEST)
Yes, thereโs still a bullish pattern in play. But this is where traders get chopped if they donโt pay attention.
๐ CONFLUENCE ZONE = 96K
That sits right on the weekly 21EMA + 0.5 FIB = perfect 4th wave retrace.
Another rejection at 102K could drag us there.
๐ MAJOR PIVOT = 105K
Former support, now resistance. Small bullish bounce showing, but unlikely a full reversal yet. There is also a deeper retrace of the WXY structure that is still in motion.๐ฌ
๐ WAVE PROJECTION:
โข Wave 1: 0.236 - 88.9K
โข Wave 3: 0.618-0.65 (Golden Zone)
โข Wave 5: 0.786 = 121K-122K major resistance
BLX chart confirms that 121-122K zone is huge.