Bitcoin is going to complete ABC corrective waves up to 42K
Updated
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.
Share this Idea with your friends.
Your likes and comments are the best thank you!
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.
Share this Idea with your friends.
Your likes and comments are the best thank you!
Note
Be ready for big channel breakout and big drop!Many people sent message and didn't believe that Bitcoin will drop to 42k. My answer to them is: "There is a simple principle in financial markets, every trend needs a correction"
Note
After breakout, A retest to the 48K zone is happening.Take your short positions and sell your spot funds because next target is 42K zone
Note
Fake Breakout! Market still remains bullish
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