Elliott Wave Analysis:BTCUSD Bears Are Not Done Yet; Room For 5k
Updated
Good morning traders,
After recent developments on bitcoin I decided to updated you in video as it appears that we are still in downtrend and that this weakness may continue to a new low once again.
There will be time to buy, but just not yet.
GH
After recent developments on bitcoin I decided to updated you in video as it appears that we are still in downtrend and that this weakness may continue to a new low once again.
There will be time to buy, but just not yet.
GH
Note
Bitcoin turned sharply higher, but there is still no signs of a bullish reversal, while it's trading below 8k level, so for now we are tracking deeper three waves of recovery, where price may test and slow down 7000 - 7200 resistance. So, traders should still be aware of a continuation down as this can be just another corrective recovery, drop back below 6k would be very bearish as it would open door for 5k.
Explore our services
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
👉wavetraders.com/elliott-wave-plans/
Learn Elliott Waves
👉 wavetraders.com/academy/
Newsletter Sign up
👉 bit.ly/3FVPVzO
Related publications
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.