Hi Traders,
Bitcoin is heading lower to complete a five-wave sequence. The price seems to be in wave (iv) which is currently unfolding as a triangle pattern.
According to Elliott Wave theory, a triangle usually precedes the last move of a sequence. If this count is correct, we should see another leg lower in wave (v) before any major bullish reversal.
What's your view on BTCUSD? Let me know in the comment.
Thanks for reading!
Bitcoin is heading lower to complete a five-wave sequence. The price seems to be in wave (iv) which is currently unfolding as a triangle pattern.
According to Elliott Wave theory, a triangle usually precedes the last move of a sequence. If this count is correct, we should see another leg lower in wave (v) before any major bullish reversal.
What's your view on BTCUSD? Let me know in the comment.
Thanks for reading!