Current perspective on the market…
Dear friends, the price has retreated to the mark of 73,000 (73K) and is currently recording a reaction at this level.
Observing the price action since the bottom was created at 74K in April last year, we can see a rather beautiful Harmonic Deep Crab pattern gradually forming.
Of course, to definitively confirm that this pattern is complete and the price will officially reverse here, we need additional confirmation signals:
The first signal: A bullish divergence must appear on the RSI indicator. As I have shown on the chart, a bullish divergence is currently very clear.
The second signal (final confirmation): We need a strong bullish candle accompanied by a breakout volume after the recent decline.
In other words, the only thing we are missing right now is a reversal candle with good liquidity.
When all confirmation signals are available and the price begins to recover from these levels, the short-term targets of the pattern will successively be: 82,000 - 88,000 - 98,000.
NOTE:
The pattern will be completely invalidated if the price declines and closes a candle below the red area (support zone) that I have marked on the chart.
I hope this decline has reached its conclusion for the market to start reversing. Let's continue to monitor closely, dear friends! $BTC #Colecolen
