strobe3000

BTC Elliott Wave Count - Will we revisit 6K again??

BITFINEX:BTCUSD   Bitcoin
It appears that we will be heading lower in the short term due to a few things:

1. We are still in the overall downtrend from the highs of $20k. Have not seen a strong impulse wave to the upside yet.
2. We have a major support trendline in red that looks like we broke through and it has a strong possibility of becoming a resistance line.
3. Current Elliot count has us staring on the larger wave 5 going down (in white). On a smaller count we just started wave 3 (in yellow).

We have a strong possibility of revisiting 6k and maybe even lower. If we break below 6500 this could confirm that we are on the smaller wave 3 count.

Note: This is just for entertainment, do not use for trading purposes and understand there are high risks trading Bitcoin assets.
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