Current BTC corrective structure is very similar to what we have seen with XRP in August-September.
In both cases,we see a 7 wave corrective structure and major fall happens right after rejection from 0.702 retracement rally and then forming a base on the 5th wave within wave 5 and a small push up taking it near wave 4 of 5th wave in wave 6 before the capitulative bottom in wave 7. Then after the wave 7 the price hovers up in the region and comes down near the previous low set in wave 7 for the last time without breaching the low of wave 7 before reversal. The structural looks very similar and may play out.
#btc #2021bullrun #NFA
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Happy Monday everyone !!! Its been a good ride up
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Next major targets : 47.5k and 54k where btc may face resistance
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Recovery going as expected !
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For a bullish recovery wave 5 of this recovery structure should be above wave B of the ABC correction
Its Bearish..
Ready to lose money??