from the top, 38.2 % retracement for Leg B, corresponding to the line 8875.
Which means we have a leg C waiting us down. It usually has a similar length to Leg A. From here, it could be 7200.
Or, 61.8% retracement of the first wave point. which is 7800.
I am not recommending any but this is just an advisory.
Fundamentally, it shows the chart should already be knocking 10000 level because the consensus is one of the biggest events. However, it could be that bitcoin could move sideways for alt coins to pump while the event is taking place, and it would have to complete its journey down afterwards.
Plus, we have some news coming from Korean exchanges getting investigated for potential fraud so keep that in mind.
Which means we have a leg C waiting us down. It usually has a similar length to Leg A. From here, it could be 7200.
Or, 61.8% retracement of the first wave point. which is 7800.
I am not recommending any but this is just an advisory.
Fundamentally, it shows the chart should already be knocking 10000 level because the consensus is one of the biggest events. However, it could be that bitcoin could move sideways for alt coins to pump while the event is taking place, and it would have to complete its journey down afterwards.
Plus, we have some news coming from Korean exchanges getting investigated for potential fraud so keep that in mind.
