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ElliottWaveAnalyst

Bitcoin correction is just getting started...

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Bitcoin (BITMEX:XBTUSD.P)  
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BITMEX:XBTUSD.P   Bitcoin
Wedge Head and Shoulders Elliott Wave Bitcoin (Cryptocurrency) BTCUSD XBTUSD
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wedgepattern headandshoulders elliottwaves bitcoin btcusd xbtusd
As we can see on the chart, Bitcoin is in a zone with heavy high volume resistance after having broken down from a large ascending wedge. It should stay within the downward fan channel and accelerate to the downside in a wave 3 of a larger scale A wave correction to around 6100 or lower in the medium term.
Komen:
Ok, looks like price has touched the upper border of the fan channel and reacted strongly to the downside just as espected. Now it should enter the green middle channel and accelerate downward.
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