BTC on the brink of a huge correction watch out
Already many weeks before BTC reached a new top. I warned in my analysis already not to FOMO in. I still see no further upward movement possible at short term. Even despite of BTC ETF’s. There is a website where you can find data about BTC ETF’s money inflow/outflows and at the moment there is more BTC outflow happening from BTC ETF’s than money inflows.
When more outflows occur from BTC ETF’s it’s a sign that a correction is incoming. So despite of al the media hype is creating FOMO because of BTC ETF approvals. It does not mean directly that BTC’s price will go op.
These institutional investors are smart enough not to invest at the top when BTC looks on multiple indicators highly overbought. Also Grayscale predicts a decline back to approx. $42000.
I always say… Don’t listen to what they say. Watch what they do.
And at the moment the money outlfows signals a correction. So please be careful with new investments at the moment.
I expect a decline followed by strong increase and then a correction phase will first happen with a two phase Elliot wave abc correction waves. Then BTC will probably ready for the next bullrun from September / October.
When more outflows occur from BTC ETF’s it’s a sign that a correction is incoming. So despite of al the media hype is creating FOMO because of BTC ETF approvals. It does not mean directly that BTC’s price will go op.
These institutional investors are smart enough not to invest at the top when BTC looks on multiple indicators highly overbought. Also Grayscale predicts a decline back to approx. $42000.
I always say… Don’t listen to what they say. Watch what they do.
And at the moment the money outlfows signals a correction. So please be careful with new investments at the moment.
I expect a decline followed by strong increase and then a correction phase will first happen with a two phase Elliot wave abc correction waves. Then BTC will probably ready for the next bullrun from September / October.