BTC has given traders hard time couple of weeks back when it dropped to 47k zone.
Looking at the Daily chart, what looks like is BTC is going through Correction wave and I believe it hasn't completed the cycle yet.
It has already touched Point A & B of the correction wave and C is yet to be touched which is around 44K zone.
Also EMA 20 & 50 are now working as Resistance which will add additional pressure on the coin.
So may be in couple of days we might see BTC heading south to complete its correction cycle.
If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends.
Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks.
Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
Looking at the Daily chart, what looks like is BTC is going through Correction wave and I believe it hasn't completed the cycle yet.
It has already touched Point A & B of the correction wave and C is yet to be touched which is around 44K zone.
Also EMA 20 & 50 are now working as Resistance which will add additional pressure on the coin.
So may be in couple of days we might see BTC heading south to complete its correction cycle.
If you like my analysis then do drop a LIKE and a COMMENT. Also do SHARE it with your friends.
Also don't forget to smash that FOLLOW button to get daily analysis of multiple crypto currencies and sometime ASX stocks.
Note - These are my personal notes and in no way a financial advice. Do your own research and Trade wisely
