Hi everyone,
Just to share some Elliot/Fibonacci analysis. I remain long term bullish on bitcoin, but short-term over the next few days the price may go lower.
I think we're in the final sub-wave 5 of wave C to complete the ABC correction that has been forming over the past few weeks.
I see support potentially somewhere between 26-29k (29k = 100% of Wave 0-A; 26k = aggressive 150% wave iii of sub-wave 5 extension).
Its never easy to predict the future - but I hope this helps and good luck!
Just to share some Elliot/Fibonacci analysis. I remain long term bullish on bitcoin, but short-term over the next few days the price may go lower.
I think we're in the final sub-wave 5 of wave C to complete the ABC correction that has been forming over the past few weeks.
I see support potentially somewhere between 26-29k (29k = 100% of Wave 0-A; 26k = aggressive 150% wave iii of sub-wave 5 extension).
Its never easy to predict the future - but I hope this helps and good luck!
Note
Just an update, as the sub-wave iv finished higher than in the original projection. The revised target is still within the original range but now narrowed to 28.3-28.8k.
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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.