Elliote Waves plus bearish CVD
Based on the CVD and price action, I believe there's a potential for a retest of the 52k or 54k lows unless we see a significant pump (which is certainly possible).
The 5-wave correction appears to have concluded, and we're now in what could be an ABC correction. If the price retraces from here, it could sweep the lows and retest the highs of the channel, forming an ABC pattern before another downward leg.
Note: the A from ABC correction might start a little above.
It's important to note that this is speculative and based on my personal interpretation of Bitcoin's short-term trajectory.
The 5-wave correction appears to have concluded, and we're now in what could be an ABC correction. If the price retraces from here, it could sweep the lows and retest the highs of the channel, forming an ABC pattern before another downward leg.
Note: the A from ABC correction might start a little above.
It's important to note that this is speculative and based on my personal interpretation of Bitcoin's short-term trajectory.
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