BTC is reaching oversold zone (RSI is almost 20).
The second Elliott corrective wave is approaching the end.
The market suffered huge correction that was expected. Breaking the marked trend line is very very unlikely.
We should start buying bitcoin again
The second Elliott corrective wave is approaching the end.
The market suffered huge correction that was expected. Breaking the marked trend line is very very unlikely.
We should start buying bitcoin again
Note
it looks like a bounce. I don't expect that the bearish trend continues. I expect some horizontal movement of bitcoin in the following weeks before it returns to be bullish again.
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Related publications
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.