This is my current views and estimate of the current Bitcoin movements.
It seems to me that the move from Dec 16th to Jan 20th has made a Leading Diagonal as a wave 1.
Currently we seem to be losing short term momentum and am thinking we will make wave 2 of wave 3 in a cycle.
Wave counts were made using Fibonacci retracement and extension tools but are rough estimates.
It seems to me that the move from Dec 16th to Jan 20th has made a Leading Diagonal as a wave 1.
Currently we seem to be losing short term momentum and am thinking we will make wave 2 of wave 3 in a cycle.
Wave counts were made using Fibonacci retracement and extension tools but are rough estimates.
Note
current view of wave 2 correction of wave 3 in a cycleNote
Current thoughts Note
Green trend line shouldnt hold.Thinking we are going to continue this small correction
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Current estimateThinking we are still in a micro correction
Could fall anywhere between $9700 to $9100 (even $8700)
Will be watching for the higher low to form
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An estimateNote
Parabolic micro correction?Note
Current estimateNote
Note
My wave count must have been wrongCorrection is too steep to fit into previous model
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Showing the Fibonacci extension and retracement pivots
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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.