Hey guys!
Today, I'm seeing a rather dim picture for Bitcoin.
It appears that we're currently experiencing ABC Elliott correction waves. Furthermore, despite a minor uptick, I'm observing a bearish divergence, and overall, trading volumes seem somewhat weak. The weekly support line is situated around $52,000.
Additionally, historically, BTC tended to correct 2-3 weeks before halving events...
If you're considering trading this movement, don't forget to set up a stop-loss and follow a risk management strategy.
What are your thoughts, guys? Do you believe we'll retest $52,000, or are we headed back towards reaching $100,000?
Today, I'm seeing a rather dim picture for Bitcoin.
It appears that we're currently experiencing ABC Elliott correction waves. Furthermore, despite a minor uptick, I'm observing a bearish divergence, and overall, trading volumes seem somewhat weak. The weekly support line is situated around $52,000.
Additionally, historically, BTC tended to correct 2-3 weeks before halving events...
If you're considering trading this movement, don't forget to set up a stop-loss and follow a risk management strategy.
What are your thoughts, guys? Do you believe we'll retest $52,000, or are we headed back towards reaching $100,000?