BTC/USD ANATOMY OF A CORRECTION

19 Nis 2021

If we take a look at the current market we can see a simple setup which needs to be handled correctly. The is a falling trend from the top of the market, which was followed by a 3 wave correction (last one was overreacted) but it wasn't a surprise. First we need to jump back to that trading range to see what happens next. If we cannot break above that range, and the market will start to dip lower and lower, it could mean that we need to retest the 45k level (top of the 1st correction since the start of the bull market). The reason behind this could be that each correction must test the previous top of the earlier correction. It did not happened last time so we may clear that zone with that correction.

23 Nis 2021

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We will go lower