theansweris42

Candidate Bullish Zig-Zag Correction (Wave C)

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
This analysis posits a wave C of an ABC correction in progress. The retracement of the candidate wave 1 leading diagonal is too shallow for a typical wave 2 retracement therefore my preferred wave-count now has the leading diagonal as a wave A. On this basis I would expect wave C to extend to 100% to 161.8% of wave A with resistance to be found at the deceleration shadow boundary (indicated with a dark Red line).

Outlook is Bullish until circa beginning of March reaching ~$10950. After that price will be making a new lower-low (below $6435).

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