Looking like the possible elliott wave that BTC is encountering.
Extending an old trend line from ATH could be a resistance later.
Bearish divergence on the recent price movement could signal also a downturn soon.
100d count on the top puts the end of W3 right at 51d per typical waves, should be the halfway point.
W5 is very truncated on this chart, it can possibly dip quite lower than this, if W1 = W5 it'll be around 3k? 2k?
Extending an old trend line from ATH could be a resistance later.
Bearish divergence on the recent price movement could signal also a downturn soon.
100d count on the top puts the end of W3 right at 51d per typical waves, should be the halfway point.
W5 is very truncated on this chart, it can possibly dip quite lower than this, if W1 = W5 it'll be around 3k? 2k?
Note
Elliott wave is incorrect now as wave 4 just passed the wave 1 drawn here, with the current BTC price @ 10.8k as of this writing.Note
Note
Bearish Flag
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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.