BTC/USDt is trading at 39400 this evening. Sentiment is showing fear at 21 out of a 100. The exponential moving averages are on a strong downward trend; while daily momentum (13 ADX @ 21.98) is trending modestly to the downside. For resistance you can use the exponential moving averages. More importantly price at the 45400 resistance and the 37155 for support.
Elliott Wave structure completed a double zigzag at the 32917 Jan 23 low. We can now expect a three wave series for a D wave of a Minor degree triangle most likely forming. The move up from the 23rd so far is acting the part. These correctives are usually double threes and this one here is turning out to be one so far. The first move up hit resistance at the 38.2% DvsB before it started going sideways and contracting. Once done a three wave move is expected.
