BTCUSD - Short Setup for a correction.
There correction is not finished yet for Bitcoin . In Elliott Wave Land: Wave 1 is to be retraced at least 61.8%. This has not happened yet.
I do see an A-B correction so far with B wave being an expanded wave.
The move up on the B wave does not look impulsive! (Its choppy as hell!)
USD is not about to crash. (Yet)
I think Bitcoin will have its day but these things take time.
On a final note: Why would the correction be just as long (in relation to length of time) as the impulsive move? Anyway you can decide but decide with emotions set aside.
I do see an A-B correction so far with B wave being an expanded wave.
The move up on the B wave does not look impulsive! (Its choppy as hell!)
USD is not about to crash. (Yet)
I think Bitcoin will have its day but these things take time.
On a final note: Why would the correction be just as long (in relation to length of time) as the impulsive move? Anyway you can decide but decide with emotions set aside.
Komen:
Breaking News: SEC Shoots down ETF bid.