5 waves down of current move to complete at wedge bottom.
Slightly odd waves and fibs but it seems to be describing the action.
From there a pop up but I think still a bear market needing a lower low.
Slightly odd waves and fibs but it seems to be describing the action.
From there a pop up but I think still a bear market needing a lower low.
Note
Had a bit of luck with that one- the pop came right on target! This could now be a low for a while- BTC may now create another wind-up pattern to send price wither higher or lover but I still have a slight bias towards a lowere low being put in...Note
Further downside SCENARIO. After 5 small waves down, we will see a correction up. There is a confluence of the downside 1.618 of this with the initial 1.618 from the first drop- which is needs fulfilment for a full ABC correction, also the key S/R level around 5000. This could be a touch of the upside of broken DTL and a buying opportunity. The red lines indicate a wind-up/ wedge pattern that could occur that will send price down (or up!).
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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.