Just a quick note update...
From the last AT CryptoScan, the BTC 4H did pullback down, to push lower than the last but still a recent higher low. The former was expected, but the magnitude was not. Am told that this was due to internally, in China, there is a lot of real panic and dumping of crypto assets. Apparently, there are waves of Eastern selling and Western buying.
So, the Cycles drawing was used on the 1H chart and, lo and behold, there appears to be some truth in the pattern as the down trend of recent weeks appear to match up. Projecting forward, we may expect that the next low be on 25 May (tomorrow).
Now, BTCUSD appears to have broken above the (down) trend line resistance, similarly for the 1H MACD, and even the 5EMA Volume indicator (lowest panel).
Now, looking for a clear higher low to test the 34K-35K level successfully...
From the last AT CryptoScan, the BTC 4H did pullback down, to push lower than the last but still a recent higher low. The former was expected, but the magnitude was not. Am told that this was due to internally, in China, there is a lot of real panic and dumping of crypto assets. Apparently, there are waves of Eastern selling and Western buying.
So, the Cycles drawing was used on the 1H chart and, lo and behold, there appears to be some truth in the pattern as the down trend of recent weeks appear to match up. Projecting forward, we may expect that the next low be on 25 May (tomorrow).
Now, BTCUSD appears to have broken above the (down) trend line resistance, similarly for the 1H MACD, and even the 5EMA Volume indicator (lowest panel).
Now, looking for a clear higher low to test the 34K-35K level successfully...
