I observe a corrective wave (ABC) in bitcoin in the move from its high at 109 K. 'A' wave as an expanding leading diagonal as mentioned in my previous post, and 'B' wave as a double three (WXY) with Y wave as a contracting triangle as depicted. 'C' wave as an impulsive wave with a 5 wave count.
Note that the ratio of wave A and wave C is 1:1 !
I reckon the correction from bitcoin is over and we shall see a rally soon to another all time high !
Note that the ratio of wave A and wave C is 1:1 !
I reckon the correction from bitcoin is over and we shall see a rally soon to another all time high !
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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.