BTC to Finish Short Term Correction Wave
Updated
Bitcoin now bouncing downward on the last leg of an Elliot Correction Wave. The bounce will come off of the 7700-7800 level or break through and bounce off the 7400-7500 level as both price levels indicate large volume profiles (especially 7400 level).
These levels also coincide with the top of the descending trendline, adding more relevancy of a bounce off the 7400 price level.
Will keep this chart updated once the bounce has completed.
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Next huge psychological levels....Tha Big 10k!!!
Fingers crossed for a massive breakthrough past this level, but I highly doubt that will happen on the first attempt.
These levels also coincide with the top of the descending trendline, adding more relevancy of a bounce off the 7400 price level.
Will keep this chart updated once the bounce has completed.
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Next huge psychological levels....Tha Big 10k!!!
Fingers crossed for a massive breakthrough past this level, but I highly doubt that will happen on the first attempt.
Note
Looks like we have a completion of a triple top, along with confirmation of a full bodied red candle on the 1hr/4hr charts. Look for a bounce off support around the 7800 or 7400 levels. Trade closed manually
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