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Bitcoin

21 Jan 2021 ‚óŹ 05:12 PM

Bitcoin did not break out of the triangle on the upside but did so on the downside. This changes the wave count to most probably wave 3 being complete and wave 4 in progress. Will wave 4 be small? that is take support at the previous swing low near 29,000, close to and within 38.2% retracement? that is the 1st scenario and more likely. The 2nd scenario would be a deeper cut back to the reverse parallel channel line near 25,000. 

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