Bitcoin Bounces in Apparent Corrective Waveform

Last week's low generated a lower low so now we can apply some technical analysis to pick up some clues. It appears the bounce beginning Dec 22 is in zigzag form. Most Elliott Wave zigag patterns at this point are considered corrective and hints at a 11,500 or possibly 10,000 retest. There is a small chance this is the beginning of a diagonal which is short term bullish...it is too early to make that call. As a result, the higher probability move is deeper correction into the New Year.

For those exploring Crytpo trading - here is a Bitcoin Intro guide.

For those interested in Elliott Wave theory, grab these beginner and advanced EW guides.

Good luck Crypto traders!