BitcoinShort
BTC/USD Correction/Bear Scenario
This is how i feel about Bitcoin:
We are currently in an ABC correction of the previous 5 wave structure.
We have confirmed the bearish count as we
have a clear B wave
Currently on C wave (looking for our 5 subwaves)
Using fib extension from AB and subwaves,
my prediction for C wave is roughly $6200-$6500
My prediction of C wave (SW 5) also has confluence:
1) An extension of 100% from Waves A+B for C
2) An extension of 261% from Subwaves 1+2 for 5
C SUBWAVES:
W3 looking to bounce around the 161% level
W4 looking to hit around the 38-50% range
W5 looking to hit roughly the 261% level
We are currently in an ABC correction of the previous 5 wave structure.
We have confirmed the bearish count as we
have a clear B wave
Currently on C wave (looking for our 5 subwaves)
Using fib extension from AB and subwaves,
my prediction for C wave is roughly $6200-$6500
My prediction of C wave (SW 5) also has confluence:
1) An extension of 100% from Waves A+B for C
2) An extension of 261% from Subwaves 1+2 for 5
C SUBWAVES:
W3 looking to bounce around the 161% level
W4 looking to hit around the 38-50% range
W5 looking to hit roughly the 261% level
Related publications
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.