Bitcoin correction is not over yet
The price action of July 2019-Dec 2019 had a "perfect" correction look and it was probably a triple zigzag.
But, the problem is the first accumulation period at around $6k-$7k was quite rapid and gave no time for proper accumulation. (check the accumulation zone)
Moreover, the wave structure from $6.5k to $10k looks like another multi-zigzag, in this case it is likely to be a triple zigzag.
I think the correction will continue. We need more time and accumulation for higher highs.
The next move can be a triangle or can also be any other corrective patterns, i.e. flat etc. but I think we will see $6k-$7k once again.
@leopisbig
But, the problem is the first accumulation period at around $6k-$7k was quite rapid and gave no time for proper accumulation. (check the accumulation zone)
Moreover, the wave structure from $6.5k to $10k looks like another multi-zigzag, in this case it is likely to be a triple zigzag.
I think the correction will continue. We need more time and accumulation for higher highs.
The next move can be a triangle or can also be any other corrective patterns, i.e. flat etc. but I think we will see $6k-$7k once again.
@leopisbig
Commento:
on track