BTC has completed 3 steps of the corrective A wave, including a strong drop from the peak area of 64k5 to 53k followed by accumulating wave B in the continuous weight loss triangle pattern with 5 wavelengths, breakout and retest before completing take proffit C of the model at 48k
Wave B starts with a weak recovery, followed by a quick fall then withdraws to form a pinbar candle that quickly recovers to the 55k resistance.
Currently there are signs that the sellers are in a big position as the h4 candle fails to close above 56k and starts the decline with a cluster of three black raven candles, the next move is to move to retest support 48k before falling further to the 40k zone.
Wave B starts with a weak recovery, followed by a quick fall then withdraws to form a pinbar candle that quickly recovers to the 55k resistance.
Currently there are signs that the sellers are in a big position as the h4 candle fails to close above 56k and starts the decline with a cluster of three black raven candles, the next move is to move to retest support 48k before falling further to the 40k zone.