#ETHUSDT 6H Chart
Price filled 50% of the imbalance and bounced from there. MACD is showing bearish weakness, RSI is sold and EMAs are bearish. I expect price to reach the 2h breaker at $1,440 before potentially moving down again.
#BTCUSDT 4H Chart
Price is currently getting rejected from the resistance area at 19.6k as expected. MACD is not clear, RSI js sold and EMAs are bearish. I don’t expect this resistance to hold as price should move up and fill the imbalance around 21.6k.
You need to reclaim 20k region / Right above my wave B
If it’s the case, I’m confident that we’ll get ready for a BREAKOUT
Can we start this BULL PARTY?
BTC is very close to a BREAKOUT of this mega Falling Wedge, hence this scenario is taking more space than the others
Unless fundamentals get REALLY worse, I don’t see the 2 other cases taking place.
A recovery to the 38.2% from ATH at 37k
Indeed, this remains the most likely case following the traditional markets and macroeconomics.
Shorter Timeframe Analysis
I believe that we are going to be seeing 21-22K first before 15-16K. I found a possible flat scenario as an alternative; however, I found that the B and C wave are highly off due to the questionable 168%+ B wave and C wave being too strong.