Running Flat Wave 4 Over for Bitcoin?
Correction from my first post. I dont believe my first chart was zoomed out enough to see the correction.
Bitcoin hit a critical resistance earlier with a running flat extension potentially signifying that this corrective move could be over or near it very soon.
Additionally, what is really interesting is that the C leg of this move is 1.5 times the length of A which is very common in these corrections. The date hit exactly at the current high.
Could still l go up, but things are aligning nicely for a potential final five waves down. If this target begins to make headway, I will post some potential targets.
Trade safe.
Bitcoin hit a critical resistance earlier with a running flat extension potentially signifying that this corrective move could be over or near it very soon.
Additionally, what is really interesting is that the C leg of this move is 1.5 times the length of A which is very common in these corrections. The date hit exactly at the current high.
Could still l go up, but things are aligning nicely for a potential final five waves down. If this target begins to make headway, I will post some potential targets.
Trade safe.
Kommentera:
I also meant to add that we are still continuing bearish divergences on the daily timeframe.