$BTC continues its downward trend, traversing under the Kumo cloud, bouncing off the 2/1 Gann Fan level of resistance multiple times plotted from the previous ATH of $19K.
Wait for a clear break of the 2/1 Gann Fan and & definitive breakout of Kumo cloud before assuming any long position. An ABC correction following the completion of the Elliot Wave may also...
BTC appears to be headed sub $10K.
T & K under cloud. Downward trend. Typical ABCD wave pattern. BTC in mimicking its annual bearish January patterns. White trend lines connect possible levels of resistance and support. Volume indicates sell off. TTM indicator indicates rising selling trend.
Huge flat top Kumo cloud on hourly Ichimoku (7, 77, 231, 21) and appears to be holding .618 retracement following the Moneygram news.
Look for atleast 1:1 extension at some point in near future but huge Kumo cloud to pierce to new highs.
To be more risk averse, wait for the breakout over the cloud to take a long position, however, an Edge to Edge move is still...
