Bitcoin - Sideways for a few days ?
Price seems to have made an impulsive move from the July low to the 70k high.
This means we're now in the correction phase.
I'm leaning more towards a higher degree impulsive move, this means the consolidation can be anything but a Triangle otherwise that would make the move a potential Zigzag or other complex combination.
Typically, the optimal zones for a reversal are situated around the 50% and 61.8% Fibonacci levels.
TLDR; Price is still consolidating. Not yet time to buy.
This means we're now in the correction phase.
I'm leaning more towards a higher degree impulsive move, this means the consolidation can be anything but a Triangle otherwise that would make the move a potential Zigzag or other complex combination.
Typically, the optimal zones for a reversal are situated around the 50% and 61.8% Fibonacci levels.
TLDR; Price is still consolidating. Not yet time to buy.
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Thanks !
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