The Corrective Wave for BTC - Running Flat
H1 timeframe, trendline was broken and re-tested at the same time
Shows that the sell is temporarily in the lead
However, it still does not affect the long-term timeframe,the body of D1 candle yesterday was red but quite small, not enough to cool down the market.
The slight shaking caused by H1 is also the corrective wave that I said in the previous posts.
This correction wave can be in the Running Flat form according to the Elliott theory.
This wave serves to reinforce the trend of the main wave
I often call this "stop station" to get strength to continue running
The starting line for the next upside wave is located at the end of wave B $19888
Current support
$18000 was touched yesterday
$17500 and $16900 are the next support if the price continues to decrease
Conclude:
In the medium term, it is still bullish, there is no sign of reversal
And bearish in short term
Shows that the sell is temporarily in the lead
However, it still does not affect the long-term timeframe,the body of D1 candle yesterday was red but quite small, not enough to cool down the market.
The slight shaking caused by H1 is also the corrective wave that I said in the previous posts.
This correction wave can be in the Running Flat form according to the Elliott theory.
This wave serves to reinforce the trend of the main wave
I often call this "stop station" to get strength to continue running
The starting line for the next upside wave is located at the end of wave B $19888
Current support
$18000 was touched yesterday
$17500 and $16900 are the next support if the price continues to decrease
Conclude:
In the medium term, it is still bullish, there is no sign of reversal
And bearish in short term
