Bitcoin is currently forming a rising wedge, while volume continues to decline and a bearish divergence is developing.
I'm still seeing another leg up to $88-$91k zone hitting the upper trendline of this rising wedge followed by a drop breaking down the lower trendline.
I also updated my Elliott Wave count to a simple Leading Diagonal 33333 with an Extended 1st Wave. This means that Wave 5 must not go beyond 100% of Wave 3.
What are your thoughts?
I'm still seeing another leg up to $88-$91k zone hitting the upper trendline of this rising wedge followed by a drop breaking down the lower trendline.
I also updated my Elliott Wave count to a simple Leading Diagonal 33333 with an Extended 1st Wave. This means that Wave 5 must not go beyond 100% of Wave 3.
What are your thoughts?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.