Bitcoin Is Finishing A Corrective Decline

May 22, 2023

Bitcoin with ticker BTCUSD made nice and clean A-B-C correction in the 4-hour chart as mentioned and highlighted. We can actually already see it trying to wake up from the first 26k support area, but to confirm a completed correction, we need to see a recovery back above channel resistance line and 29k region. Just in case if correction is still in progress, then next deeper support is at 25k-24k that can be tested within an ending diagonal (wedge) pattern for wave C according to count #2.