BITCOIN - Heading Below 20K...It's A Good Thing!

We know this is an unpopular opinion BUT technically, Bitcoin is ripe for a move to the downside.

On the monthly chart, we can see that we've completed a major wave 1 impulse and now we're in a wave 2 correction. We're looking for one more move down to complete this wave 2.

See monthly chart below:

It looks as if we're making a 535 correction and therefore, we believe we'll be moving towards the 20k region to complete wave C.

Please note that we are still bullish on Bitcoin, as well as Crypto. We're looking for any buying opportunities to hold for the long term!

We'll be loading up for the long term anywhere below 20k region.

What do you guys think?

Goodluck and as always, trade safe!

See our previous setups below:

Want more chart ups like this? Click the links below:

Forex: t.me/Wicktator

Crypto: t.me/Crypto_Wick

Forex VIP: t.me/WicktatatorVIP_bot

Crypto VIP: t.me/CryptoWickBot

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.