BTCUSD : Correction after Diagonal
BTCUSD is Entering a New Uptrend, but a Slowdown May Occur
In recent weeks, BTC's upward movement has not been very aggressive, and selling pressure has been consistently present.
Currently, BTC appears to be in the 5th wave of a Leading Diagonal. However, a slowdown may happen soon due to the following technical signals:
Note: Price zones are only significant areas that affect price movement.
In recent weeks, BTC's upward movement has not been very aggressive, and selling pressure has been consistently present.
Currently, BTC appears to be in the 5th wave of a Leading Diagonal. However, a slowdown may happen soon due to the following technical signals:
- The price is hitting a major descending trendline.
- The price is slowing down after encountering an FVG (Fair Value Gap) on the H4 timeframe.
- AO (Awesome Oscillator) is showing divergence, starting from smaller timeframes up to the H4.
- If a slowdown occurs, BTC may retrace to the 50% or 78.6% Fibonacci levels, which are targets for the Diagonal.
Note: Price zones are only significant areas that affect price movement.
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