Hello Guys,
My theory based on EW count - Bitocoin has already finished corrective ABCDE pattern and further downward trend began.
First retracement is expected between $3300 - $3200.
My theory based on EW count - Bitocoin has already finished corrective ABCDE pattern and further downward trend began.
First retracement is expected between $3300 - $3200.
Note
Note
Finally, corrective Wave-2 takes more time and it will be more complex. So, I will not be surprised if we see fakeout to $3500 mark. Idea remains the same = drop below $3300.
Note
Note
$3250 is an area I'm eyeing to complete current corrective Wave-B and then should Bitcoin should take us above $4000 as a motive Wave-C of current ABC correction. Current pattern looks like Ending Diagonal. 
Note
Based of current price action, my count had to be revised.Continuation of this idea is available here:
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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.