There are 3 possible scenarios:
- double bottom at $30k
- break of $30k then a long wicked wick closing [ideal scenario]
- break of $30k and a prolonged dump until 2.618 or 3 FIB
However, as per BTC's DNA, it doesn't go below its previous blow-off top, which was $20k
Please note that this whole drop is probably just wave A of 4. Most likely, the BTC correction would be a triangle since its wave 2 correction was a zigzag. Hence, don't expect a new ATH soon since triangle corrections are quite tricky to trade and takes at least 8 months to finish so patience would be badly needed in here.
If you are still HODLing your BTC, I highly recommend to stake it.
- double bottom at $30k
- break of $30k then a long wicked wick closing [ideal scenario]
- break of $30k and a prolonged dump until 2.618 or 3 FIB
However, as per BTC's DNA, it doesn't go below its previous blow-off top, which was $20k
Please note that this whole drop is probably just wave A of 4. Most likely, the BTC correction would be a triangle since its wave 2 correction was a zigzag. Hence, don't expect a new ATH soon since triangle corrections are quite tricky to trade and takes at least 8 months to finish so patience would be badly needed in here.
If you are still HODLing your BTC, I highly recommend to stake it.
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.
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.