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Bitcoin Correction Over?? Still HODLin'
Bitcoin has taken another dive yet we still remain bullish. We have adjusted our Elliott Wave and our chart view so that you can see the overall behavior. This bear trend we have been seeing for the better part of this month appears to be the corrective wave. We are getting support just above the 0.386 Fibonacci level, which is well aligned with Elliott Wave Theory. If we retrace past 0.236 at 47.2K, however, we have invalidated the wave, and this is a bearish sign. However, 50K is providing good support at the moment, and we anticipate this to hold. Watch for resistance at 54.4K and 57.6K
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