Bitcoin
Short

Looking Lower Towards 52500

Looking lower in BTC following the likely completion of wave (b) of {y}. Price should begin to develop lower in an impulsive manner against the 66500 wave (b) high towards the 52500 level.

The double three correction (waves {w}-{x}-{y}) that began in March has developed in what appears to be a straightforward way with some distinct patterns, such as the diagonal in wave (a) of {w} or the zig-zag formed by wave {w} itself, the latter perfectly contained within parallel channel lines and displaying equality between directional component waves. A variety of other Fibonacci proportion is also found between adjacent and parallel waves, giving some life to the count. For as long as the 66500 high holds and any upside develops in a corrective manner, we can be confident in more downside towards the 50000 region in Bitcoin.
Chart PatternsTrend AnalysisWave Analysis

Jayce, CEWA
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