The current correction, which formed a rising wedge pattern, has completed and lower boundary of the wedge has been broken. After the wedge breakout, BTC has formed a double top reversal pattern.
Moreover, as shown in the chart, the wedge shaped correction was 61.8% retracement of the down wave.
I expect BTC to decline from here and drop to or surpass the last lowest low of around 4000.
Moreover, as shown in the chart, the wedge shaped correction was 61.8% retracement of the down wave.
I expect BTC to decline from here and drop to or surpass the last lowest low of around 4000.
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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.