Bearish Bitcoin Poised For Correction To $50K
The rally from 30K has been a roller-coaster but the ride might just have ended. From the Elliott Wave perspective, the whole uptrend resembles the WXY structure. What we can expect from Bitcoin next would be a revisit to the $50,000 - $51,000 price range over the very short term. A new high would invalidate this forecast but until that happens, expect more downside from the BTC market.
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