Bitcoin looks like a completed textbook Leading Diagonal structure.
We can count five waves each of them is subdivided into a-b-c but they are very overlapped.
That means the underlying bullish momentum has been weak.
Leading Diagonals normally get resolved with a strong and deep pullback that erase substantial part of the preceding rally
If you are long BTC or miners check your protective stops
If bulls manage to stop that upcoming move down in a corrective wave ( b ) in the Green Demand Zone and that drop has a clean a-b-c internal structure I would be a buyer to ride the next leg up in wave ( c ) up.
We can count five waves each of them is subdivided into a-b-c but they are very overlapped.
That means the underlying bullish momentum has been weak.
Leading Diagonals normally get resolved with a strong and deep pullback that erase substantial part of the preceding rally
If you are long BTC or miners check your protective stops
If bulls manage to stop that upcoming move down in a corrective wave ( b ) in the Green Demand Zone and that drop has a clean a-b-c internal structure I would be a buyer to ride the next leg up in wave ( c ) up.
