Based on the Elliot wave theory, the pair still has some room to go with a projection to 4800 before a major correction occurs.
Note
Almost at the minimum target now as wave 5 is at least equal to wave 1Note
Minimum target hit yesterday and re correction seems to be in effect. For confirmation a close below swing lows at 3600 is needed although a topping pattern is already in full effect as we have a bearish engulfing candle subject to a close on its lowsNote
Correction well underway now. Yellow line is the main area as a target but we need a close below 3600 swing low.Note
Swing low at 3600 taken out. A close below is very bearish. Be careful as we could see a retracement soon before we move into 3000Note
Critical Level for BTCUSD reached! Note
BTCUSD into support and bounces right off
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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.