Beautiful move down that we were looking for in Bitcoin. We've hit the first target to the downside and now I'm looking to see a pullback to the .382 - .618 before continuation further. Given how strongly this has moved down, the .382 is much more likely. This market is trending to the downside, so I'm not looking for any trades/targets to the upside unless $10,934 is broken - extremely unlikely.
Following the retracement, I am either looking for continuation with a 3 wave move to complete a WXY as the start of a more drawn out complex correction to the downside. Or I am looking for a 5 wave move targeting $8,800 to pair with the initial move down from $12k.
Following the retracement, I am either looking for continuation with a 3 wave move to complete a WXY as the start of a more drawn out complex correction to the downside. Or I am looking for a 5 wave move targeting $8,800 to pair with the initial move down from $12k.
