kwonandsons

Bitcoin: Perhaps not out of the woods yet

BITSTAMP:BTCUSD   Bitcoin
BTC''s latest grind upward has invalidated various trendlines (in both arithmetic and log scales) that have contained the correction from the all-time high, making a strong case that BTC's correction is complete. Nevertheless, the lack of volume relative to the rest of the correction remains unconvincing. Furthermore, the awkward geometry and shape (three-wave, versus clearly impulsive five-wave) of the waves that followed the 5.9k swing low suggest the correction may only be halfway over.
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