BitcoinShort
BTCUSD Bearish, But for a while.
BTC looks like it started a new Bullish Impulse movement. The wave 1 for this impulse ended at about $73,729, thus making a new ATH. BTC has been correcting ever since then for wave 2.
The wave 2 appears to be a WXY (3-3-3) correction.
The Y wave appears to be a ZigZag correction. I expect its B wave to peak at about $65,500, then this should be followed by an impulse drop for wave C of wave Y.
Wave Y would see BTC drop to a 9 month low of around $45,000
The wave 2 appears to be a WXY (3-3-3) correction.
The Y wave appears to be a ZigZag correction. I expect its B wave to peak at about $65,500, then this should be followed by an impulse drop for wave C of wave Y.
Wave Y would see BTC drop to a 9 month low of around $45,000
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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.