Is the BTC correction over ???Hello dear friends
Is the BTC correction over ???
If I want to answer this question honestly, I have to say no yet
In addition to the technical reasons presented in the chart, these cases also had an impact on my response
1.An examination of the data within the network shows that the big wallets not only did not take action against the main crawler in the last few days, but were also somewhat of a seller.
2.If we look at the current wave of downtrend, we find that the rise in prices in the last few days is most likely a correction of wave 4 of the current downtrend, so I expect wave 5 to start in a downward direction soon.
3.According to the correction wave rules, the recent price increase is in the form of a three-wave ABC, which reinforces the high probability.
4.The PRZ range marked by the intersection of the 200-day moving average + Fibo 0.618 + the valid dynamic trend line creates a high-pressure zone that can withstand severe downward price volatility.
5.The negative latent divergence shown in the chart can be very strong due to its location in the sales saturation zone.
******Appropriate entry points for supports and resistances according to the chart*******
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