Update on the below BTC idea:
So far BTC price has halted exactly at the 1.618 extension of sub wave (1) at ~$72,800 to complete sub wave (3).
If sub wave (3) is complete here then we could see a wave (4) retracement up towards $75,000-$76,000 before another leg down to complete 5 sub waves.
At that point we get to see if this whole move down has been a corrective ABC, or if its just the completion of a bearish wave 3.
Invalidation for this count is above $79,162
So far BTC price has halted exactly at the 1.618 extension of sub wave (1) at ~$72,800 to complete sub wave (3).
If sub wave (3) is complete here then we could see a wave (4) retracement up towards $75,000-$76,000 before another leg down to complete 5 sub waves.
At that point we get to see if this whole move down has been a corrective ABC, or if its just the completion of a bearish wave 3.
Invalidation for this count is above $79,162
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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.