BTC Diamond Formation
2020-04-17

Most everything is in the chart for now and anyone knows if BTC will push down 1 more time before a big rally or go up straight.
we can see that we could form a Diamond Figure (Pink) to 0.618fibo

i don't show indicators but i can say :

Monthly chart show clearly that we are still going down.
Weekly chart have indecision on indicators.
Daily chart have inverted indicators.

we have 3 clear resistances formed by EMAS to breakout :

EMA 50   ---- 7200
EMA 100 ---- 7600
EMA 200 ---- 8000 

possibilities after breakout :

1. we could fly to 9000 (DIamond Finished + 0.618 FIBO )

2. we could fly to 8400

possibilities with Rejection :

3. we could retrace one more time to 3700  before a new push. ( Traditional Support )

My advice for now is to wait as spectator and wait for a dip or a breakout.

Happy Tr4Ding & Stay Safe !