Hi friends, looking at the 4-hour chart you can see that BTC is consolidating within the 78.6 % and 100 % retracement mark of the current downswing.
Also its playing with the support of elliot-wave 2, as you can see in my chart.
When this is a bear-flag the price could rise to the 161.8 retracement mark in the next downswing.
OTHERWISE price would go up from here to hurth the black downtrend line you can see in my chart.
What i am not expecting. The price action is still very bearish, its just a matter of time when BTC makes his next step down in my opinion.
Good luck with your trades!
Also its playing with the support of elliot-wave 2, as you can see in my chart.
When this is a bear-flag the price could rise to the 161.8 retracement mark in the next downswing.
OTHERWISE price would go up from here to hurth the black downtrend line you can see in my chart.
What i am not expecting. The price action is still very bearish, its just a matter of time when BTC makes his next step down in my opinion.
Good luck with your trades!
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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.