Will Bitcoin finsih this bearish Elliot Wave Count
The overall Trend is still down, although it broke out of a major trend line to the upside
That could be bull trap, a lot of people bought that break, creating liquidity for short sellers
The whole move down since the All Time High, does not look finished
There are also a few bullish signs
The break happend after the major support at 30000 rejected sellers. You can see bullish price action and momentum that level
Bitcoin is in Correction Mode. It has to break the strong resistance at around 41000
That could be bull trap, a lot of people bought that break, creating liquidity for short sellers
The whole move down since the All Time High, does not look finished
There are also a few bullish signs
The break happend after the major support at 30000 rejected sellers. You can see bullish price action and momentum that level
Bitcoin is in Correction Mode. It has to break the strong resistance at around 41000
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.