BTC Part II: The Wave ContinuesFollowing on from my previous chart, we can see that the downward trajectory of the Elliot Wave is continuing down the projected pathway.
The price showed a clear rejection on the (2) count move upwards, bouncing straight off the 20 EMA and back to the downside as the MACD has crossed over into a bear-ish direction confirming the move.
All signs continue to point to the downside, for the previous details from the past few days please check out the original wave chart dictating the initial wave signals in the related ideas below, including the major rejection to the corrective wave!
I will begin layering in bids at the 6000 level and lower until a firm reversal signal is formed on the larger time scales.
Remember to follow along for updates on the price action! Also available on Twitter @Wawrdog
*** This is not trading or financial advice ***
