It is possible that bitcoin has ended its move up and will turn back down.
The price reached 2,618, the Fibonacci extension of wave 1 of this impulse, forming an ending diagonal pattern for wave 5( known also as a falling wedge pattern)
Don`t forget that the main pattern I am watching is an extended flat correction, which would mean that the price is going to go down to form a new low, but we will see this at the right time.
An important level of support which, if broken, probably means that the upward trend has ended, is 22500, until then things are not very clear so I prefer to stay out of trading.
Also a break of this falling wedge pattern may accelerate the move to the downside.
I will post updates when I will see more price action.
Good luck
The price reached 2,618, the Fibonacci extension of wave 1 of this impulse, forming an ending diagonal pattern for wave 5( known also as a falling wedge pattern)
Don`t forget that the main pattern I am watching is an extended flat correction, which would mean that the price is going to go down to form a new low, but we will see this at the right time.
An important level of support which, if broken, probably means that the upward trend has ended, is 22500, until then things are not very clear so I prefer to stay out of trading.
Also a break of this falling wedge pattern may accelerate the move to the downside.
I will post updates when I will see more price action.
Good luck
Comment:
Bitcoin into the 4th wave correction
