#BTC = Daily Analysis = 18.11.2021 $BTC #Bitcoin #crypto #cryptocurrency #investing #trading

Candles speak $BTC is going lower, possibly much lower, but likely after a pause for a few days. The 1-, 2-, and 3-day candles/formations are not even remotely bullish. The chance of getting an ugly bearish weekly candle is increasing.
The target of $55-56.5k shared with the subscribers a few days ago has been achieved.
That was a quick summary – now let’s have a look at the details and waves.

Yesterday’s update:

The daily candle today is a typical bearish continuation candle that is well supported by multiple indicators. As it moved too fast and a bit too far, expect a pause for 1-2 days, most likely a horizontal or a slightly upward movement.
Be aware of numerous calls for bottom – they will likely be false at this point. The first bullish sign would be if a daily candle closes above at least $59k. I emphasized “closes” as the price could jump higher during the day, but the closing price is what matters the most.
The immediate move down is of lower probability as BTC is oversold on many lower frames and would require time to normalize indicators.
Odds: Neutral-Bearish

We identified the top within hours after it happened on November 10, once BTC and ETH placed the clear motive waves down. It was not surprise for the subscribers who were prepared for such event well in advance.

BTC continues to follow the path outlined several days ago and today it completed one more major formation that allows us to project the next moves and targets using other methodologies.

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Previous Monthly Analysis:

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