BITCOIN: Is the correction finished?

…and the answer is also difficult.

I see two possibilities now at the 4 hour-chart.

The first one: with the last drop, BITCOIN has reached the 5th wave bottom, end of the ZIG-ZAG correction…

3rd wave longer than 1st and 5th… 5th wave short but within the expectations, since “C” is just below “A” Leg… From now on, we should see 5 waves towards the “Target Resistance” in dashed Blue line.

If BTC manages to break that resistance it would be a very good signal of Reversal…

2nd Option (among others, of course…): The assumption would be that still the 4th wave is in play

About the author: TIMM Trader
Uniting Experts & Novices for Mutual Profit!

Add your Scripsio!

Join Scripsio and write what you write!
Be a part of the Scripsio community. Share what you have written.

Comments

No comments yet