I am following bitcoin´s correction since the 109 top, and there´s a few possibilities.
Either 108 followed by 109k formed a double top, in which case we are still braced for more downfall or...
Bitcoin has finished a flat correction in Wave 4 of Elliot Wave Theory.
Proportions seem to work fine, with a 3 waves A, another 3 waves B, and a 5 waves C which has just hit 1.618%
If the correction continues, since there´s no volume nor support, we are facing
76-77 and then the 65-66k zone.
Let´s hope this is a flat and done!
Either 108 followed by 109k formed a double top, in which case we are still braced for more downfall or...
Bitcoin has finished a flat correction in Wave 4 of Elliot Wave Theory.
Proportions seem to work fine, with a 3 waves A, another 3 waves B, and a 5 waves C which has just hit 1.618%
If the correction continues, since there´s no volume nor support, we are facing
76-77 and then the 65-66k zone.
Let´s hope this is a flat and done!
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Disclaimer
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.