cultureofwoods

My Take on BTC - Likely a Messy Fourth Wave

BINANCE:BTCUSDT   Bitcoin / TetherUS
This is my chart for the current BTCUSDT correction. Seems to have started off as a simple ABC and then morphed into some mutated mess of a correction. The first impulse failed and we are in a second ABC (C wave target 0.764 to 0.854 in cyan and orange respectively) with the final stage apparently a WXY where the Y is an expanding ABC (target 1.618 in blue). All targets sit in the purple box. I have no idea if this is correct since it is messy but this is typical of fourth wave corrections in my experience and likely indicates we make one more high before a much larger correction begins.
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.