I don't own any bitcoin and don't trade it but still like to follow it, as it's fun and interesting. It also seems, in my opinion, to carve out patterns that follow many tenets of Elliott Wave. Right now. is it in the process of completing a complex 4th wave correction? Has it finished or nearly finished a 5 wave C wave down to complete the double zigzag correction? It is holding on the 38.2 fib retracement at this moment but I can't see a completed 5 wave down so I'm not confident that the correction has finished and in fact think it may still have downside to go. Looking forward to what transpires.....
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Big divergence on the RSI but EW would suggest that another leg down might be due.....
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Major bounce on the 61.8 fib retracement. 4th wave completed??
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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.