🚀 Bitcoin Technical Analysis Update (Weekly) 🚀
📊 Monthly Chart Insights:
- 📈 A neutral triangle began at this year's high.
- 📉 June's big sell-off makes this scenario very likely.
- 🔵 Monthly structure is forced onto this weekly chart, with a blue-dashed projection line.
🔍 Key Observations:
- 🕵️♂️ Applying the concept of "middle marking" and noting the lethargic behavior of wave-a.
- 🔺 It appears a neutral triangle has been forming since this year's high.
📅 Predictions for the Coming Weeks:
- ⏳ Bitcoin is expected to continue lower over the next 1-2-3 weeks.
- 📉 Eventually, it may break below $50,000.
- 🔄 Due to wave-b retracing much of wave-a, wave-d should alternate by retracing less than 61.8% of C.
- 🔽 Then, wave-E will approach $40,000.
Stay informed and trade wisely! 📉💡
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