Seems that we are repeating a specific downtrend fractal. Orange circle: Downtrend with double bottom to neckline Green circle: Fake Uptrend with a massive crash crossing the neckline and hitting a new low
Looks like we are in an ABC correction. RSI showing bearish divergence as a correction was overdue
I am still expecting lower lows <15k. For now we are in a short-term uptrend
Micro Patterns can help us to find possible targets.
First Wave with 5 sub-waves successfully completed. Next take profit target at Wave 3 Level.
We can expect an ABC correction down to 8800 USD for BTC. Bearish divergence on 4hr chart shows that correction is incoming. This chart shows the Elliot Wave analysis: First Elliot wave of BTC uptrend has almost been completed.
Elliot Wave Pattern completed and ABC correction started. Keep in mind, patterns help to identify only possibilities. There are no predictions in trading.
ICON has successfully completed all 5 waves in the current uptrend. ABC Correction has already started with possible targets shown in Chart. After correction target has been reached, you can expect next phase: MOON