candlestickninja

Rally before our actual ABC Correction on higher timeframes?

BITSTAMP:BTCUSD   Bitcoin
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.






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