Bitcoin managed to complete the Double Zigzag Correction pattern near the resistance zone, if we look a little more closely at the peaks of this area, the last peak could not be created above the previous peak, and this is a sign of the weakness of the upward trend. In addition, we can see this last twin as a Double-Top pattern (It can be our Trigger😉).
I expect Bitcoin to decline to the support zone in the coming hours.
Meanwhile, if Bitcoin can break the support zone, we can say that the correction is over, and we will expect a further decline.
Bitcoin Analyze ( BTCUSDT ), Timeframe 15min⏰.
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could be a double three we're having (instead of double zigzag) where the Y wave is triangle/flat.
pejman_zwin
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@shmaiz, I don't think so, but thanks for sharing your idea.
Skyrex
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Wow! Nice awareness about the Elliott waves! I consider the dump below 17500 to finish bear market wave 5. The divergence will confirm the reversal. Locally there is also the potential divergence:
pejman_zwin
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@SkyrexTrading, Thanks for sharing,possible, let's see what will happen.