From the high of 60k, it is the preferred count that BTC finds its self in a WXY correction of which we are in the extreme latter stages of such correction and the bottom could be in. Hence, as BTC becomes extremely oversold and key support areas and also fib extensions are tested there is high probability that we see a major reversal which we could be in the genesis of. In the larger Y wave, we can see depicted is a completion of the C wave with even a breakdown of sub waves of the 5th of the 5th of this C wave within the larger Y wave degree. This shows a valid count for a bottom to be in and also the strong impulse wave off the $17600 low coupled with formation of higher lows and a low time frame uptrend forming, additionally; BTC close a long wicked weekly candle & a daily bullish engulfing tweezer bottom.
All these variables add to the potential for a bottom to be put in and a large retracement of the WXY correction from ATH of BITCOIN chart, this could see price rise to 31k area in coming weeks/months which will be a key level to the future journey of BTC.
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All these variables add to the potential for a bottom to be put in and a large retracement of the WXY correction from ATH of BITCOIN chart, this could see price rise to 31k area in coming weeks/months which will be a key level to the future journey of BTC.
Please like and follow for more ADVANCED ELLIOT WAVE ANALYSIS!!