BTC/USD- Longer Correction in Store?
BTC/USD- Longer Correction in Store?
Bitcoin appears to be on an A-B-C Zigzag (5-3-5) correction Since reaching $13,031 on January 20, and would appear as if the correction may have a little more to give.
On wave “C”, we appear to be in a 5-wave downward correction and are currently on Wave 3.
Wave B is 0.786 Wave A
Wave C is 1.618 Wave A, with a 5-wave impulse down (currently on wave 3)
Looking for ~$7,300 BTC.
Bitcoin appears to be on an A-B-C Zigzag (5-3-5) correction Since reaching $13,031 on January 20, and would appear as if the correction may have a little more to give.
On wave “C”, we appear to be in a 5-wave downward correction and are currently on Wave 3.
Wave B is 0.786 Wave A
Wave C is 1.618 Wave A, with a 5-wave impulse down (currently on wave 3)
Looking for ~$7,300 BTC.
Note
Conversely, the low at $8,284 could be Wave "B" of a bottom, and we could be on an Impulse 5 Wave up with a final price target of ~$13,636 at the top of Wave "C" of the correction.Time will tell which count we are currently on.
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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.