Haejin

Bitcoin (BTC): Where Could the Correction Bottom Be?

BITMEX:XBT   Bitcoin / U.S. Dollar Index
The fractal nature of the symmetrical triangle breakdown is uncanny. I believe the current correction is nearing its terminal phase given that red C of the ABC sequence likely has one more lower low.
The correction bottom likely has strong affinity towards the 0.618 Fib level and thus a range of $7,227 to $6,800 would be the projected range.

In line with the fractal , wave v could complete as a downward wedge pattern; also called an Ending Diagonal in Elliott Wave jargon.

For more in depth daily analysis as well as Trade Alerts, check out Haejin.com!

Comments

Little more down length 5= length of 1: BUT I m Expecting Triple 3 because enough downside left in weekly and monthly
+1 Reply
Amjadsid Amjadsid
@Amjadsid, end with a Triangle :)
Reply
Very good call from October. wave 5 could have been your falling wedge
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out