Today’s $BTC made another bearish step towards setting up a new trend. Bears are in the driver’s seat. Let’s explore the hypothesis.
Today’s strong bearish candle canceled bullish hopes and closed below 8 EMA line. Some indicators started to point downwards, but not all, and it would probably take 1-2 days to paint a clear picture.
The odds are bearish, but not strongly. More downside is needed to strengthen them.
The current weekly candle does not look very promising at this point. The next two days will shape it up.
ELLIOTT WAVES AND FORECAST
This section contains the EW perspective, the discussion on the possible targets and the critical levels.
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