Updated

Bitcoin 4th wave/C correction in place?

The well known ponzi scheme bitconnect being shut down extending our initial "crypto crackdown fear" slide into potential end of 4th wave and C correction.
.5 Retracement of full market range acted as stop point as did .764 extension off A -> B and previous low in december crash.
Hope for more positive reaction into asian session to recover the losses

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Break through low look for $7898 as invalidation of wave structure

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.764 off wave 2-3 hit

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Levels to bear in mind if we do start to climb(chart bit messy):
Caught between channel + .236 retrace 17th dec -> yesterday lows
.382 b -> c decline
.5 retrace 2 -> 3 up which was also significant support

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.382 test

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Caught in this range between .382 & .236 + trend line. Bullish flag potentially. Look for break of .382 and 50 RSI

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Next level is previous range low @~$12700

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testing this area

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Probed above the level but closed below it.

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Expected pullback after 44% climb in 3 days. Price rejected at strong area of resistance. 50 RSI still holding on 4h chart

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Potentially

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