In this video, I discuss why Bitcoin may still make another low before the Wave 2 correction is fully complete.
Upon closer examination of Wave iv in the previous Wave 5 correction, it appears the level where Wave iv ended was slightly miscalculated.
Technically, Bitcoin should have dipped below the perceived low, but either its strength has prevented this, or the ongoing correction is nearing completion.
The key level to watch is $82,445—if Bitcoin breaks above this, we should continue higher.
However, it’s more likely that we first dip below $81,274 before experiencing a strong upward move.
Pay close attention when Bitcoin makes another low, as the reversal could be sharp, potentially piercing through $82,445, which would confirm the trend shift.
If we make a new low then I would suggest price would turn back up after tagging $81,071.
Upon closer examination of Wave iv in the previous Wave 5 correction, it appears the level where Wave iv ended was slightly miscalculated.
Technically, Bitcoin should have dipped below the perceived low, but either its strength has prevented this, or the ongoing correction is nearing completion.
The key level to watch is $82,445—if Bitcoin breaks above this, we should continue higher.
However, it’s more likely that we first dip below $81,274 before experiencing a strong upward move.
Pay close attention when Bitcoin makes another low, as the reversal could be sharp, potentially piercing through $82,445, which would confirm the trend shift.
If we make a new low then I would suggest price would turn back up after tagging $81,071.
Trade ist aktiv
We broke above $82,445 which means Wave 3 did begin where I originally said at $81,274 despite some tricky waves which I will address in the next video. For now lets expect to break the highs at $88,788 to confirm Wave 3 before moving higher.
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Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.