BTC - Looks Very weak, might just double top at 7600!
Updated
BTC looks very weak, low volumes and bearish div on multiple time frames.
I think BTC is currently making the wave 4 of A wave of ABC zig zag downwards and we still have another wave that can take it down to sub 7k ranges.
Next major support is at 6.5k if that breaks we could easily be testing lows of 2018
Right now currently in the making the C subwave of 4 of A.
From the looks of it, might form an ending wave diagonal and breakdown 7600.
I'll wil looking to add shorts here and if it goes up higher continue to ladder more shorts.
I think BTC is currently making the wave 4 of A wave of ABC zig zag downwards and we still have another wave that can take it down to sub 7k ranges.
Next major support is at 6.5k if that breaks we could easily be testing lows of 2018
Right now currently in the making the C subwave of 4 of A.
From the looks of it, might form an ending wave diagonal and breakdown 7600.
I'll wil looking to add shorts here and if it goes up higher continue to ladder more shorts.
Note
Ok so it was a very long a drawn out subwave 4 making an ABC structure. I can see BTC make another push towards 7600-7700 target still remains the same before it starts dumping again.
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Got the double top as expected. We should start moving down real soon.
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Broke the corrective channel more downside to comeNote
BTC is forming the UTAD in wykcoff distribution schematic. I expecting it hit around 7800-900 to form the double top and then head down again.
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BTC has been very choppy and moving really slow lately. One more subwave up before we start turning around.
Expect around 7900 to complete to double top.
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BTC will likely bounce from here to around 7800-900 to retest the previous highs and complete the final wave in C wave ending diagonal.
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