#Update ideas on Bitcoin dated April 07.
From 7450, Bitcoin began to slide down. In 7 days was formed some kind of five-wave structure with multiple overlapping. I marked it as leading diagonal triangle in the first wave, after that printed zigzag in (2) wave.
Also is likely the scenario as on ETHUSD, where a triple zigzag complicated the correction. Instead of leading diagonal triangle, was formed a double zigzag in wave (X). With such a development of events, growth in the region of 7700-8000 by a wave (Z) is still possible.
In any case, the entire growth from mid-March is correction after which, with a high degree of probability, the price of Bitcoin will continue to downtrend. I expect falling to the area of 3400-4400 in the wave (c) of (Y) of (B).
☘️ Good luck!
Thanks for your 👍 fingers under the idea.
From 7450, Bitcoin began to slide down. In 7 days was formed some kind of five-wave structure with multiple overlapping. I marked it as leading diagonal triangle in the first wave, after that printed zigzag in (2) wave.
Also is likely the scenario as on ETHUSD, where a triple zigzag complicated the correction. Instead of leading diagonal triangle, was formed a double zigzag in wave (X). With such a development of events, growth in the region of 7700-8000 by a wave (Z) is still possible.
In any case, the entire growth from mid-March is correction after which, with a high degree of probability, the price of Bitcoin will continue to downtrend. I expect falling to the area of 3400-4400 in the wave (c) of (Y) of (B).
☘️ Good luck!
Thanks for your 👍 fingers under the idea.
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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.