BTC/USD: Is Bitcoin just playing out a complicated 4th leg? [Video]
|We have seen some consolidation in BTCUSD after the aggressive sell off. Breaking down the timeframes, the long-term bias remains bearish, and we could be in a complex 4th wave correction before sellers return.
261.8% and a 5th wave completion (as far as Elliott Wave is concerned) is not seen until 17139.
We could/should consolidate until month-end in the corrective 4th wave channel. We will watch price action to see if the bearish Butterfly unfolds with the channel.
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