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BTCUSD initial reaction failed, and price action suggests one more leg lower to complete a 5th wave from the 10/27 peak. This would wrap up the current impulsive decline and set the stage for a larger corrective bounce.
⚠️ Important Note:
Treat any upcoming bounce as corrective, not impulsive. The structure does not yet support a new ATH scenario unless the market proves otherwise with a decisive bullish shift.
BTCUSD initial reaction failed, and price action suggests one more leg lower to complete a 5th wave from the 10/27 peak. This would wrap up the current impulsive decline and set the stage for a larger corrective bounce.⚠️ Important Note:
Treat any upcoming bounce as corrective, not impulsive. The structure does not yet support a new ATH scenario unless the market proves otherwise with a decisive bullish shift.
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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.
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.