NICKVASS10

Bitcoin Wave Analysis is correction nearing its end?

BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin continues to operate in a downtrend since it made a new high towards ~$32000; price then came down in a most likely 5 wave structure breaking just below $30000 support area before bouncing back up in a Corrective B wave structure. Price has since been in a C wave correction although price has been quite choppy and corrective evident in the 3rd wave which was 3 waves; likely meaning the C wave is an ending diagonal structure and we can expect this final 5th wave to be an ABC structure also.

Where can we target price projections; as written on chart the $28100-$28200 will be a strong area of confluence where price can likely show some strength and support. If we look into past price history there is a strong area of importance in the Purple box where price shot up in April after breaking that area. This makes this area of support/resistance a great area for buyers to come in and for a completion of this correction.

Please like and follow for more!!

Declinazione di responsabilità

Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.