BTCUSD looks like it might be putting in a wave 2 ABC retracement.
A bearish head and shoulders has formed indicating a minimum low that falls to around the 0.618 retracement level for the wave 1 impulse from $6k.
A deeper retracement is still possible, to around the $7k point, as of course is the possibility that this is the C wave of the much larger ABC correction from the all time high which would put us down in the $3k-$4k area.
A bearish head and shoulders has formed indicating a minimum low that falls to around the 0.618 retracement level for the wave 1 impulse from $6k.
A deeper retracement is still possible, to around the $7k point, as of course is the possibility that this is the C wave of the much larger ABC correction from the all time high which would put us down in the $3k-$4k area.