Bitcoin Final Down Leg Setup
Looking for turning points in the area indicated, note that price can spike past the 4370 high and not change the trend as long as it does not close above. It is possible but unlikely.
The 3 potential turning points are at
1. 3870
2. 4250
3. 4450
The target for the downmove is 2500 where investors will come in and start buying and start the next bull move.
A 4H candle close above 4376 invalidates this setup.
Trend analysis has nothing to do with wave counting, look for a trend and enter trades on pullback.
The 3 potential turning points are at
1. 3870
2. 4250
3. 4450
The target for the downmove is 2500 where investors will come in and start buying and start the next bull move.
A 4H candle close above 4376 invalidates this setup.
Trend analysis has nothing to do with wave counting, look for a trend and enter trades on pullback.
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