I'll keep it simple wtih this one.
BTC is a 4th corecttion wave, in theory 4th wave needs to touch 1st wave before going down.
In this is idea you can see that 1st wave bottom is in a perfect place for fib 50.
So if 4th wave reacheas 1st wave around 32k and gets rejected on further move up, we can easily expect btc to go down to around 10k.
Good luck and trade safe.
P.s. I'll check how this played out around april 2023.
BTC is a 4th corecttion wave, in theory 4th wave needs to touch 1st wave before going down.
In this is idea you can see that 1st wave bottom is in a perfect place for fib 50.
So if 4th wave reacheas 1st wave around 32k and gets rejected on further move up, we can easily expect btc to go down to around 10k.
Good luck and trade safe.
P.s. I'll check how this played out around april 2023.
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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.