BTC correction almost over - then more downside
Updated
This is my first post to the tradingview community. Hope that some of you will find it beneficial.
BTCUSD 0.27% is creating an combination correction pattern, which is almost over. Once target is reached I expect further downside to the lower 5K region, where traders could expect yet another correction pattern. Will update this post as price movement progresses.
Personally, I don't believe that bears are willing to give up control for at least another 4 - 5 weeks. The price of a bitcoin 0.27% could halve before this nightmare is over!
BTCUSD 0.27% is creating an combination correction pattern, which is almost over. Once target is reached I expect further downside to the lower 5K region, where traders could expect yet another correction pattern. Will update this post as price movement progresses.
Personally, I don't believe that bears are willing to give up control for at least another 4 - 5 weeks. The price of a bitcoin 0.27% could halve before this nightmare is over!
Note
Last wave was truncated. Only reached $6825 and did not get to 7K. I expect a downward progression to the region of $5400 and then another sideways movement.
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.