Bitcoin - A dump to 55K likely
My thoughts:
1) RSI trendline not yet reached. Each time the trendline was hit during this bull market, a local bottom was reached.
2) Fibonacci: 38.2 percent retracement has not been reached during this Elliot Wave 4
3) Major Trendline flip: We have not touched the trendline as support before we bottom during this wave. I am expecting a dump sometime next week (flash crash) to 55K before the crypto market bottoms.
1) RSI trendline not yet reached. Each time the trendline was hit during this bull market, a local bottom was reached.
2) Fibonacci: 38.2 percent retracement has not been reached during this Elliot Wave 4
3) Major Trendline flip: We have not touched the trendline as support before we bottom during this wave. I am expecting a dump sometime next week (flash crash) to 55K before the crypto market bottoms.
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