Bitcoin
Short

Elliot Wave: Can we see one leg down on Bitcoin?

273
In my previous analysis, I stated that the previous correction on BTCUSD is shallow with regards to the impulse move it's correcting and Bitcoin could make a w-x-y double zigzag pattern.

Since then, we've got a sell-off which seems to be wave (a) of the second zigzag. Now, I'm expecting a relief rally to retest the broken support level in wave (b).

Once wave (b) is completed, I will be anticipating a decline in wave (c) to complete the double zigzag pattern.

The potential target for wave (c) is the key weekly support level around $8300.

Do you think the correction is over? Let me know in the comment.

Thanks.

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.