Hello everyone,
I present my analysis regarding Bitcoin.
As you can see in the chart i have highlighted the possible scenario of a correction in ABC with relative targets.
It is likely that before forming wave A, Bitcoin will retest one of the retracement levels of the last movement, indicated by the pink circle.
From there i expect a fall to around 38,000$ (wave A).
Then the formation of wave B with a retest of 52,000$ more or less, corresponding to the fibonacci retracement of the A wave movement.
Obviously a break of the $53,000 level with the start of upward pressure towards the upper levels cancels the ABC scenario.
Comments and opinions are welcome.
Have a nice day :)
**NOT financial advice, everyone do their own research**
I present my analysis regarding Bitcoin.
As you can see in the chart i have highlighted the possible scenario of a correction in ABC with relative targets.
It is likely that before forming wave A, Bitcoin will retest one of the retracement levels of the last movement, indicated by the pink circle.
From there i expect a fall to around 38,000$ (wave A).
Then the formation of wave B with a retest of 52,000$ more or less, corresponding to the fibonacci retracement of the A wave movement.
Obviously a break of the $53,000 level with the start of upward pressure towards the upper levels cancels the ABC scenario.
Comments and opinions are welcome.
Have a nice day :)
**NOT financial advice, everyone do their own research**