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Proekt_73
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Is it already the bottom and reversal for BTC, or not yet? A question raised in the chat.
In brief:
1. We do not even consider the chance of a reversal until our P73 Trend & Target Dynamics indicator shows that the price of #BTC has entered a stable uptrend on the 15-minute timeframe. This is the minimally significant timeframe, and we should pay attention to the reversal signals from it right now. There is still no reversal there. However, there is another signal of a potential high.
2. The transition of the BTC price into a stable downtrend on the 4-hour timeframe, which has already been discussed - this is indeed a bad sign. The only worse scenario now could be a transition on the 12-hour timeframe (which hasn't happened since October). The basic correction targets on the indicator for the four-hour timeframe based on the current low are $93,401 and $91,599. And there are no additional targets because the structure remains ascending. BUT it is worth looking at how the basic targets of stable uptrends and downtrends have played out in the last three cases - completely. So the targets are definitely realistic, at least until there is a reversal on the 15-minute timeframe.
$BTC
In brief:
1. We do not even consider the chance of a reversal until our P73 Trend & Target Dynamics indicator shows that the price of #BTC has entered a stable uptrend on the 15-minute timeframe. This is the minimally significant timeframe, and we should pay attention to the reversal signals from it right now. There is still no reversal there. However, there is another signal of a potential high.
2. The transition of the BTC price into a stable downtrend on the 4-hour timeframe, which has already been discussed - this is indeed a bad sign. The only worse scenario now could be a transition on the 12-hour timeframe (which hasn't happened since October). The basic correction targets on the indicator for the four-hour timeframe based on the current low are $93,401 and $91,599. And there are no additional targets because the structure remains ascending. BUT it is worth looking at how the basic targets of stable uptrends and downtrends have played out in the last three cases - completely. So the targets are definitely realistic, at least until there is a reversal on the 15-minute timeframe.
$BTC
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