Short

Short term BTC Elliot Wave Analysis

BTC has shown a valid and quite clean potential 5 wave incline, where a false breakout of the key $24175 level occured otherwise known as a truncation or failure wave in Elliot Wave Terminology. There is a strong indcication of reversal with that clear rejection on attempt of new high partnered with the tagging of the 0.618 fib extension (gold) to the tee and also 1 hour bearish divergence evident. There is some strong support structure at $23000 which points as a likely destination for price to arrive at.

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