Hello traders,
I'm seeing a lot of bullish charts on BTC while infact BTC has just been correcting for another big dump.
Bitcoin broke down from the C wave ending diagonal to low 6k ranges was the just the first impulse in 3 wave move down.
Currently BTC completed a 3 wave - ABC correction to make the X wave. Implying that we should get another move down.
This presents with a good shorting opportunity down to low 5k ranges.
I'm seeing a lot of bullish charts on BTC while infact BTC has just been correcting for another big dump.
Bitcoin broke down from the C wave ending diagonal to low 6k ranges was the just the first impulse in 3 wave move down.
Currently BTC completed a 3 wave - ABC correction to make the X wave. Implying that we should get another move down.
This presents with a good shorting opportunity down to low 5k ranges.
Comment:
BTC broke down as expected. Small bounce from here and then continuation of the downtrend.
Comment:
Got an extension the C wave. It still is a correction to upside meaning the impulsive move will be down without any doubt.
Comment:
The first leg down is complete and this whole correction is an expanded flat of larger degree. One more wave down to go before we see a short term reversal on bitcoin. It should take another 4-5days before we see the actual reversal.
Breakdown is inevitable at this point.