BitcoinUpdated Could be hitting bottom. Thought I'd offer one possible scenario
If we have indeed hit bottom, and that's a big IF, we could be in the ABC correction phase. From C I'd expect a bullish wave 1 if this scenario holds true. What do you guys think? I welcome your thoughts, comments and criticism.
Note
We need to see a breakout above the decending triangle's resistance line to confirm we completed wave 5 and are on the ABC correction. If it doesn't breakout above the resistance line (around the 10K level) we could be in for a lower low around $7,500. Breaking strongly above 10K is going to be the real test. Id' like to see it above $10,200 before I'm satisfied we're on an up tread.
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.
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.