This entire correction we seem to have been in a falling wedge, but I also noticed a longer term (about a year) rising wedge on the log chart. We are also under daily and 4hr cloud with bearish TK cross. With exchanges barely being able to let new money in for account registration etc, and robinhood allowing crypto trading in the near future, the only downside catalyst I see is people that entered early wanting to take profits, and maybe a bit of regulation FUD.
So as I'm long term bullish on crypto/BTC I think we could finally see a fall to that 200 EMA or possibly even a very quick touch of the 300 EMA at 8900 and 7200 on the coinbase chart. Hopefully from there on the market can be a little less indecisive and take a clear direction up after the test of 200/300 EMA support.
So as I'm long term bullish on crypto/BTC I think we could finally see a fall to that 200 EMA or possibly even a very quick touch of the 300 EMA at 8900 and 7200 on the coinbase chart. Hopefully from there on the market can be a little less indecisive and take a clear direction up after the test of 200/300 EMA support.