Looks like on the 12 hour BTC has an Adam & Eve pattern. The height of the arch is the potential downside. So if it plays out, it looks like 74k is possible.
Trade active
Current bump up to 84k from 80k is a minor relief rally, not a reverse of trend. BTC keeps getting rejected under the descending 200 MA. The liquidity zone around 81k is still largely untapped.
Note
So far BTC has fallen within 6k of my prediction.Trade closed: target reached
I think getting within 6k of my prediction was close enough. There is now a CHoCH for BTC, so my theory is no longer valid. Hopefully a new path up is forming. Best Wishes!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.