Hi dear traders, It time to take decision for your positions.
Bulls are saving their profits and bears are preparing to get in slowly!
Elliot Waves Theory
As you can see according to the valid Elliot theory and after this huge bull run Bitcoin needs a correction for sure!
50K - 52K is an important Fibonacci cluster zone and is acting as a resistance.
According to this theory we must expect a 3 corrective waves which called ABC corrective waves.
RSI and PRICE Divergence
As you can see a bearish divergence can be seen on the chart which is an important sign for trend weakness and reverse probability.
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