Fib Extension, Elliot Waves - Target ~6920
Bitcoin tends to move in a ABC fashion, even on multiple scales and sub waves Bitcoin also tends to magnet towards critical support/resistance prices (trend lines/EMA/Fiblevels/wedges/triangles) etc For example this triangle that has formed over the past few days bitcoin is consistently testing the tops and bottom of it with subwaves going ABC Since BTC has as not...
Short to about 10400~ based on Elliot waves and fib extensions AB=CD
Short the corrective wave to the same area which is: 100 EMA on 2h/ 200EMA on 1h and the trend line double bottom 9k~ target
Head and shoulders formation with Elliott Waves 8k and 9k are important levels
BTC should form an head and shoulders through Elliott Wave theory bringing it down to 7k over the next few weeks or so before we continue our rally up Red and blue lines are important FIB lines where it may bounce (8.7k and 7.8k)
Based on Elliott wave we should move down to around 7k over next week or so, and then continue our journey up.