Rally before our actual ABC Correction on higher timeframes?
There are signs of potential short-term bullish diamonds forming, suggesting temporary support for BTC and a possible upward thrust. This could coincide with the tech sector's earnings season, propelling BTC upwards towards the $66-$70k range (as indicated by the green line).
Whether we see a bounce from current levels followed by an ABC zigzag correction, or a break lower first, possibly below $57k, my Elliott Wave analysis points towards an ABC correction in either scenario.
Stay tuned for updates as the market unfolds. Trading cautiously with proper risk management is advised.
Whether we see a bounce from current levels followed by an ABC zigzag correction, or a break lower first, possibly below $57k, my Elliott Wave analysis points towards an ABC correction in either scenario.
Stay tuned for updates as the market unfolds. Trading cautiously with proper risk management is advised.