BITCOIN: CANDLES SPEAK: 27.04.2021

I think BTC is going lower. As it failed to climb above the 20 EMA line, I am considering a bearish path until it closes above the 20 EMA.

Forecast

  1. I think that the coin is going to bounce in the small green rectangle, charting the wave (B), the shape of which is next to impossible to predict.
  2. A closure above the 20 EMA, ~55400 as I type, with a confirmation would mean a resumed bullish rally to the new All Time High. Until this happens, the bearish scenarios are in play.
  3. There is a chance that wave (B) has completed few hours ago and a downfall resumes. However, the chances are rather slim.

The chart below remains unchanged – the same graphics as yesterday.
The monthly closure on April 30 will be crucial.

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