BITCOIN: CANDLES SPEAK: 13.05.2021

There is a good chance that #BTC goes down aggressively in the next two days, targeting 42000, 31000, 46000 (in order of probabilities).

Yesterday I thought that it would make a dragonfly doji or an inverted hammer, but it managed to form a high-wave doji. Based on that, my forecast is the following:

  1. If the coin fails to close tomorrow above today’s high, 51337.3, I would expect it to continue down to 46000-42000-31000 within a few days. This might be the end of overall correction. I marked the possible path in Red counts.
  2. If the coin closes above today’s high, I would expect it to continue with the green path that I have been talking for a while.

There is still a possibility of a new all time low marked as “alt(III)” in blue, however, consider this as a very low probability.

The coin is under bearish pressure on the daily and weekly frames. The weekly candle on Saturday could define a mid term path.

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