BTC today, a shorter-term look
Hourly chart offers plenty of possibilities both to bulls and bears. Overall, we said at macroscale that we're testing a purple falling broadening wedge, and the hourly chart seems to confirm so.
We can paint a bull flag tilted down starting with the pump in volume we saw on April 20th wich would make a pole until selling pressure kicked back the 21st. The flag retracted the whole height of the pole but buying pressure kicked in again and we are potentially looking for a test of the height of the pole wich also falls just within the purple "bear" wedge. Both outcomes of the Elliot Wave are still possible, but for now RSI and MACD are bullish so watch out for a crossover around 7,4k€ and load up your shorts around that area but beware of the green "bullish wedge" offering buying resistance too and don't be greedy.
Wouldn't bet my whole stack in neither of the two directions, so beware of pumps and dumps and look for some confirmation before taking decisions.
Best of lucks!
We can paint a bull flag tilted down starting with the pump in volume we saw on April 20th wich would make a pole until selling pressure kicked back the 21st. The flag retracted the whole height of the pole but buying pressure kicked in again and we are potentially looking for a test of the height of the pole wich also falls just within the purple "bear" wedge. Both outcomes of the Elliot Wave are still possible, but for now RSI and MACD are bullish so watch out for a crossover around 7,4k€ and load up your shorts around that area but beware of the green "bullish wedge" offering buying resistance too and don't be greedy.
Wouldn't bet my whole stack in neither of the two directions, so beware of pumps and dumps and look for some confirmation before taking decisions.
Best of lucks!
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