Hello Steamians
Doing some charting on Bitcoin and the most recent price action that I seen is not good. I was calling for the end of this correction... However I know when I might be wrong and this is one of those times.
As you see above there was an important level that price had to go thru and it failed 3 times. And then it went under the bottom support trend line. I could still be wrong about it retesting 6k but this price action has got me thinking we are in a bigger correction then I once thought.
here is what I mean.
The alternative count I have here is that the first drop to 6k was nothing more than Wave A of this Correction. The rally we just experienced was just a B Wave and now we are presently in a C wave. In the C wave We are currently is in a wave 2 going into a wave 3 within the bigger Degree C wave.
Right now I'm hoping I'm dead wrong with my alternative count... However if it does go down from here we will hopefully see a successful retest of 6 k and spring right back up and hopefully enter this big wave 3 of a higher degree that I believe we are currently in.
Hoping this makes sense to whoever is reading it. If not let me know and I will try and improve my writing style since I know it's probably weak anyways. But I always like some pointers.
Anyways even if it retests 6k. I have no doubt in my mind that something huge is brewing in the crypto market is going go nuts at some point this year. When? Obviously I have no idea. I just do my best to read the waves and the charts. But when it closes above that upper trend channel. it should be safe to call a end to the correction.
I will do my best to keep up to date on this current price action.
Thanks for reading. Any suggestions please comment below.