MhdRoyaltrade

Two Possible Scenarios for #BTCUSDT in the weekly timeframe

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Hello Crypto Traders

As it is clear in the chart we could possibly be following a Running Flat Correction Pattern ( ABC ). Based on Eliot waves theory there are 2 potential targets for the B leg of this pattern, either 1.236 extension fib level or 1.361. if this is the case (and based on the volume I believe it is) we must see the targets depicted for leg C as shown in the chart. Remember we could still have a run for 30k, yet it will still be a correction pattern. Let me know if you opine otherwise and feel free to draw your own Eliot Wave patterns.

Good luck everyone and have a profitable week.

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