Bitcoin seems to be doing a WXY correction for quite some time. IF my wave count is right, BTC seems to be working on the final 5th subwave of the larger Y wave. I expect a double bottom scenario, where BTC could hit 6 to 6.3k, and bounce from there. The bounce could be impulsive, or continue to evolve into a WXYXZ correction. I'm expecting the latter, but as time progresses, we will evaluate further.
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The first dildo. 7100 area is very important as a confluence zone. Lets watch the price action.
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Still looking weak, and IF my subwave count is correct, we can expect another leg down. Rising wedge on 15m is a confirmation of the sub elliot wave count.
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Bearflagception
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Bear flag broken down. Take profit between 6180-6460.
Trade closed: target reached
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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.