BitcoinShort
More downside on BTC as ABC correction is not yet finished?
It's still very speculative as we are just reaching the resistance of 32k but I believe we are not at the bottom of the C correction wave which would be more likely around the 200 week MA.
I believe BTC to go further down before having the relief rally which will start a higher timeframe ABC correction. The current ABC would then be the A wave of the higher timeframe ABC with the relief rally, being B- wave retracing to fibonacci levels from high of 67k to low formed at the end of the current ABC correction. Afterwards followed by 1 more downward move ( C- wave ) marking the end...
Since it's my first BTC bearmarket and i'm pretty new when it comes to investing and trading. I would like to hear thoughts on this idea?
I believe BTC to go further down before having the relief rally which will start a higher timeframe ABC correction. The current ABC would then be the A wave of the higher timeframe ABC with the relief rally, being B- wave retracing to fibonacci levels from high of 67k to low formed at the end of the current ABC correction. Afterwards followed by 1 more downward move ( C- wave ) marking the end...
Since it's my first BTC bearmarket and i'm pretty new when it comes to investing and trading. I would like to hear thoughts on this idea?
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