BITCOIN is making a very complex correction PATTERN. The macro level is still on a WXYXZ correction where the bears are looking to complete the C wave of Z. The completion of the C wave could possibly retrace price down to 5500-4500. The area of 5500-4500 is also a zone of interest because of the resistance it created back in April 2019 after the first impulse wave from 4000. However, the bulls are in control of the weekly volume as of now. So bears need to practice cautiousness and avoid shorting below 7k.
The lower degree is making a bull flag pattern that is giving the bulls some sort of bullish momentum.
BITCOIN LIVE STREAM: IF THIS SUPPORT BREAKS WILL BTC DROP TO 5500-4500 | JANUARY CAPITULATION OR RALLY
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Market:REVERSAL
Volatility: HIGH
Sentiment: BEARISH
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BITCOIN CORRECTION COMING?
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Disclaimer: This is not financial advise. This content is for entertainment purposes only and it is my own opinion. Please do your own research before investing in any financial markets.
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