Hello friends. It's a good time to dust off the Bitcoin charts. The structure and choppy nature of price over the past 2 weeks suggests that we formed a corrective motion rather than an impulsive movement, possibly the A and B waves of an ABC, which would require a C wave before being complete. We had previously talked about the potential for a lower time frame leading diagonal in wave 1, but on the lower time frame it did not really materialize the way it was supposed to, so this is the primary count we are left with.
We are not putting too much risk into this position because of Xavier's prediction for prices at 15k or lower in July, but it's still a trade worth taking in our opinion.
Thanks for playing.
We are not putting too much risk into this position because of Xavier's prediction for prices at 15k or lower in July, but it's still a trade worth taking in our opinion.
Thanks for playing.