Bitcoin SLIDING down a slippery slope

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hi traders.

My EW assessment we are currently in the last major C wave correction. Within the C wave there are 5 sub waves. Making a 5 3 5 correction from the ATH .

We are currently at the start of iii of subwave 1, (or starting subwave c of abc correction, before starting iii - wait confirmation). I would expect subwave 1 to bottom out at major support around 9500, before doing another ABC upswing, then starting subwave 3. The final subwave 5 will end around the .786 fib around the 4600-4800 level.

Tread carefully.

This is not trading advice, purely for educational purposes


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