Bitcoin could be in a corrective wave of the extended flat type and the first indication would be the fact that the price had a bounce in the 1.236 Fibonacci extension of the red wave A and we could assume that this is where the red wave B of this flat ended and would follow impulsive type C wave.
I am still not convinced by this count, but if we have a break of the resistance in the 17578-18128 area, then Bicoin could continue towards 23000 or even 27000.
Also, breaking the 17578-18128 area could confirm the scenario of a double bottom pattern.
For now my advice is to wait to see more price action and I will come back when I have more confirmation.
You can also see my previous analysis(related idea) in which I suggested the possibility of a massive drop in the price of Bitcoin. Success!
I am still not convinced by this count, but if we have a break of the resistance in the 17578-18128 area, then Bicoin could continue towards 23000 or even 27000.
Also, breaking the 17578-18128 area could confirm the scenario of a double bottom pattern.
For now my advice is to wait to see more price action and I will come back when I have more confirmation.
You can also see my previous analysis(related idea) in which I suggested the possibility of a massive drop in the price of Bitcoin. Success!
