BITCOIN // Start of the weekly correction?

2024年12月20日

After a nice expansion, Bitcoin has reached the weekly target fibo 300 and the monthly 200.

From this level, the chance of a deep correction is significant.

If the weekly candle closes like this, below the weekly impulse base, the market breaks the weekly structure and enters the correction space of the last weekly impulse.

There may be a correction of the corrective impulse, but chances are high that it will turn below the peak and go south.

There is a clean (not yet tested) H4 breakdown that triggers the longs. Below that, I'll be looking for short trades.

I don't know anything about the fundamentals, though, can anyone enlighten me in the comments?

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We may not know what will happen, but we can prepare ourselves to respond effectively to whatever unfolds.

Stay grounded, stay present.🏄🏼‍♂️

Your comments and support are appreciated! 👊🏼

2024年12月25日

註釋

It closed below the previous impulse base, the countertrend may begin.