Looks like BTCUSD is forming an "ABC" flag pattern. We will likely need to wait until this pattern is finished before we drop further.
This type of pattern will likely shake out a lot of weak hands.
This type of pattern will likely shake out a lot of weak hands.
Note
Wave B is now done, waiting for Wave C and then down we go.Note
I drew the Wave B and C in orange wrong they are suppose to be at the previous points but none the less it was an ABC flag and we going down now.The droppening has begun!
Note
The correction became a flat ABC, had to adjust the chart a bit.Note
It's changed to an ABCDE flag
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.