Bitcoin - Watching for evidence of a bottom.
Updated
Bottom Line: Watching for evidence of a bottom.
Outlook: We're weighing the possibility wave 2 may have ended at the $39650 low. Advancing above [
B]47532.89 would bolster the bullish case.
Analysis: We're considering the possibility the recent wave ((2)) correction (below) ended at yesterday's $41126 low, but as always we like key level confirmation. That would depend on Bitcoin's ability to continue the current advance towards a break of the $44453.22 high.
Disclaimer: Prices can vary between BITCOIN exchanges. Consequently, there may be differences in our chart prices due to different data sets. The analysis information is for reference only and does not constitute an investment recommendation. We recommend that people avoid trading on unproven exchanges vulnerable to hacking and theft.
Outlook: We're weighing the possibility wave 2 may have ended at the $39650 low. Advancing above [
B]47532.89 would bolster the bullish case.Analysis: We're considering the possibility the recent wave ((2)) correction (below) ended at yesterday's $41126 low, but as always we like key level confirmation. That would depend on Bitcoin's ability to continue the current advance towards a break of the $44453.22 high.
Disclaimer: Prices can vary between BITCOIN exchanges. Consequently, there may be differences in our chart prices due to different data sets. The analysis information is for reference only and does not constitute an investment recommendation. We recommend that people avoid trading on unproven exchanges vulnerable to hacking and theft.
Trade closed: stop reached
The print below $39650 signals a larger correction is still unfolding in wave 2. Near-term, the immediate trend is down.
Disclaimer
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