Bitcoin closed the previous 3-weekly candle in a bearish manner due to a strong Fibonacci resistance and algo shorts. Everyone on the social networks has been focused on the monthly candle but the 3-weekly candle was already giving a clean piece of information. I am expecting a full retrace of the 2023 upward structure (Elliott Wave impulse).
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Elliott wave & Fibonacci labelling: Common path in white, bullish count in green, bearish count in red.
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