Hello, community!
Many individuals are currently expressing concerns about the ongoing local price decline, speculating if this rapid decrease is the anticipated correction leading to a $21,000 valuation. We, however, hold a different perspective. Let's delve into the specifics of our analysis.
As previously stated, Bitcoin is presently navigating through wave 2 within the broader context of wave 5. This wave 2 correction is expected to manifest as an ABC zigzag pattern. Wave A has already reached its conclusion, as evidenced by the bearish reversal observed at its peak. The anticipated target for this descent in wave B is the 0.61 Fibonacci retracement level, situated at $26,000.
Our strategy involves vigilantly monitoring this zone for the emergence of a bullish reversal signal, which would signify the initiation of wave C. The price target for wave C is $28,600, a level coinciding with a significant liquidity pool. It is from this juncture that we anticipate the commencement of an impulse wave 3, potentially triggering a price decline.
Best regards, Skyrex team
__________________________________________________________
🔥Please, follow us and smash the rocket🚀 button to support us🔥
Many individuals are currently expressing concerns about the ongoing local price decline, speculating if this rapid decrease is the anticipated correction leading to a $21,000 valuation. We, however, hold a different perspective. Let's delve into the specifics of our analysis.
As previously stated, Bitcoin is presently navigating through wave 2 within the broader context of wave 5. This wave 2 correction is expected to manifest as an ABC zigzag pattern. Wave A has already reached its conclusion, as evidenced by the bearish reversal observed at its peak. The anticipated target for this descent in wave B is the 0.61 Fibonacci retracement level, situated at $26,000.
Our strategy involves vigilantly monitoring this zone for the emergence of a bullish reversal signal, which would signify the initiation of wave C. The price target for wave C is $28,600, a level coinciding with a significant liquidity pool. It is from this juncture that we anticipate the commencement of an impulse wave 3, potentially triggering a price decline.
Best regards, Skyrex team
__________________________________________________________
🔥Please, follow us and smash the rocket🚀 button to support us🔥
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Access free SmartTrade terminal and automated AI bot at app.skyrex.io
