BTC playing out its corrective wave
Using a Schiff Pitchfork from the highs on Jan 8 and Feb 21, along with my take on the asset's movement within Elliot Wave Theory, I see Bitcoin finishing its first move on its corrective wave.
The B and C corrective waves are not time-period significant, but so far, these movements seem validated.
Looking forward, I would like to see a bounce off of the 38.2% retracement before continuing in the lower limit of the pitchfork to complete its B wave. If this were to occur, the Elliot Wave would be validated, and we may soon observe Bitcoin attempting to escape the lower limit of the pitchfork.
This is my first public post, so let me know your thoughts!
The B and C corrective waves are not time-period significant, but so far, these movements seem validated.
Looking forward, I would like to see a bounce off of the 38.2% retracement before continuing in the lower limit of the pitchfork to complete its B wave. If this were to occur, the Elliot Wave would be validated, and we may soon observe Bitcoin attempting to escape the lower limit of the pitchfork.
This is my first public post, so let me know your thoughts!
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