Bitcoin BTCUSD - Correction finished or one more leg lower?
My main count for Bitcoin suggests that we are coming to the end of a wave 4 flat correction. As my chart markings show, either that correction just finished with the move up of the last few days or there is one more leg to go to complete a 5 wave C wave. Personally I am leaning towards one more leg down as I can't find a 5 wave pattern in the move up but at this stage I am keeping an open mind as the move off the low is a decent one. So far in it's life, Bitcoin seems to have shown a strong correlation with other risk-on assets so if it gets going then maybe stocks will too.
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.