Bitcoin correction extension to 5K with an extension to 4K
This is a BTCUSD 1 day chart.
This correction is not done.
What we are seeing now is an extension
and its trending towards 5K and possibly 4K.
Once those marks are hit a trendline needs to be broken (yellow line).
There was an attempt at 12K to break the trend line
but the numbers were not there so that did not happen and an extension to the correction occurred.
We will have several attempts to break this trendline (red circles).
Most likely it gets broken on the 4th or 5th wave
and then begins an upward trend.
Then we bounce up and ultimately with a goal of 8k to 10k by March.
Alternate scenario, we are now in the 4th wave of this correction and maybe we break it here and we trend back up.....
(the mood in Wallstreet is grim, usually they shift resources somewhere else when these happens or maybe Crypto market is reacting to Wallstreet)
This we will see in the next couple of days.
This correction is not done.
What we are seeing now is an extension
and its trending towards 5K and possibly 4K.
Once those marks are hit a trendline needs to be broken (yellow line).
There was an attempt at 12K to break the trend line
but the numbers were not there so that did not happen and an extension to the correction occurred.
We will have several attempts to break this trendline (red circles).
Most likely it gets broken on the 4th or 5th wave
and then begins an upward trend.
Then we bounce up and ultimately with a goal of 8k to 10k by March.
Alternate scenario, we are now in the 4th wave of this correction and maybe we break it here and we trend back up.....
(the mood in Wallstreet is grim, usually they shift resources somewhere else when these happens or maybe Crypto market is reacting to Wallstreet)
This we will see in the next couple of days.
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1 hour chart....
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double bottom?