Bitcoin appears to have officially commenced its retracement.
The yellow-box support zone around 96k-92k may serve as a key level to watch, though a dip as low as 90k wouldn’t be out of the question.
As shown by the provisional Elliott Wave count labeled corrective wave ABC, I interpret this as a short- to mid-term correction. While Wave C can take various forms, this scenario anticipates a typical diagonal triangle structure.
The yellow-box support zone around 96k-92k may serve as a key level to watch, though a dip as low as 90k wouldn’t be out of the question.
As shown by the provisional Elliott Wave count labeled corrective wave ABC, I interpret this as a short- to mid-term correction. While Wave C can take various forms, this scenario anticipates a typical diagonal triangle structure.
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.
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.