Bitcoin Trades In A Bearish Triangle
Gregor Horvat | Dec 23, 2021 06:05AM ET
Crypto total market chart could turn down from 78.6% Fibonacci intraday retracement. If we are on the right path, the Crypto market can see another intraday slow down. Be aware of further sideways consolidation before a sell-off occurs.
Bitcoin may have a completed wave c, and with current slow down for wave d, a bearish triangle looks like a probable scenario. Watch out for a bearish continuation once subwave »e« of (4) is fully completed.
BCH/USD is trading sideways. A bearish triangle within wave 4 can be approaching its end or is still in progress. Watch out for that drop into new lows for wave 5.
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