BitcoinUpdated Wyckoff Phase E Nearing Completion
BTC at present is ranging on the $20,000 support and as long as the price remains above $17,567.5 BTC is bullish. Price below $17,567.5 is bearish. From a waves perspective the only remaining bullish count is a diagonal in wave 1 which is valid above $17,567.5. Expect further downside if price confirms below the origin of wave 1 at $17,567.5. Expected downside in a best case scenario is around $12,500 worst case scenario is around $4,000.
Note
My thoughts on the leading diagonal idea...Note
Wave ((v)) of either C or 5 appears to be well under way
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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.