Bitcoin is finally completing its 18-day re-accumulation channel, as it's consolidating at the base with a series of corrective patterns.
Upon closer inspection, we have a series of corrective patterns in 3 waves, as is typical for corrective patterns according to Elliot Wave theory.
Every corrective wave has a counter, and once that counter is complete, then the corrective sequence either continues or the trend resumes. In this case, it's likely that the uptrend will resume and that this mini consolidation on support of our 18-day channel will prove to be re-accumulative.
Upon closer inspection, we have a series of corrective patterns in 3 waves, as is typical for corrective patterns according to Elliot Wave theory.
Every corrective wave has a counter, and once that counter is complete, then the corrective sequence either continues or the trend resumes. In this case, it's likely that the uptrend will resume and that this mini consolidation on support of our 18-day channel will prove to be re-accumulative.