it could be that bitcoin is still dealing with the 42k top. market was aiming for a abc correction but the tesla buying extended the b wave massively so that this correction looks awkward now and far away from the textbooks.
So i think either we are still dealing with the C wave and go for the 5 next, or it is already forming a ending diagonal wedge where the corrective wave 4 has already ended in A.
however in both cases it targets around 90k-100k, in case 5 is the same size as 1 or if it hits the the top of the wedge in an ending diagonal
problem remains to figure out if the C wave is already over or we see one last dump before
So i think either we are still dealing with the C wave and go for the 5 next, or it is already forming a ending diagonal wedge where the corrective wave 4 has already ended in A.
however in both cases it targets around 90k-100k, in case 5 is the same size as 1 or if it hits the the top of the wedge in an ending diagonal
problem remains to figure out if the C wave is already over or we see one last dump before
Note
no clear signal yet if C is overNote
moving nicely already, so looks like its happening.gif
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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.