Bitcoin: Breakout or ride wave
BTCUSD has been moving in a downward Elliot wave since its peak of 52800. We may be on the last reversal.
However, ~44000 is a breakout/reversal zone. A break from the zone which also near the 61.8% Fibo level could suggest a climb towards the 50000 mark.
On the other hand, as per the usual movement, BTC will continue the Elliot wave lower. First, testing the support around 40000, and if successfully broken all the way down to around 37800.
However, ~44000 is a breakout/reversal zone. A break from the zone which also near the 61.8% Fibo level could suggest a climb towards the 50000 mark.
On the other hand, as per the usual movement, BTC will continue the Elliot wave lower. First, testing the support around 40000, and if successfully broken all the way down to around 37800.
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