BTC USD - Short Term to Mid Term ( Long Term Corrective Pattern)
The overall impulse move from it's inception to the 69,000 levels of 2021 were in a clear 5 wave fashion; this lasted nearly 10 years.
Then the whole impulse move was retrace to roughly 78.6% Fibonacci level.
The retrace price action has been particularly choppy, inidicative of a Wave A in a 3-3-5 a-b-c pattern setup.
The biggest indication that the Bitcoin correction is not over yet but actually in midway process of a wave B upwards, is that NOT enough time has elapsed to meetr substantial Fib Time retrace levels.
Bias is 80% that this is larger correction pattern being a Wave B up, that could even protrude higher than 69,000 but the first test is 41,075, which would be the smaller (c) = (a) levels since the lows of 15k support area.
Then the whole impulse move was retrace to roughly 78.6% Fibonacci level.
The retrace price action has been particularly choppy, inidicative of a Wave A in a 3-3-5 a-b-c pattern setup.
The biggest indication that the Bitcoin correction is not over yet but actually in midway process of a wave B upwards, is that NOT enough time has elapsed to meetr substantial Fib Time retrace levels.
Bias is 80% that this is larger correction pattern being a Wave B up, that could even protrude higher than 69,000 but the first test is 41,075, which would be the smaller (c) = (a) levels since the lows of 15k support area.