Dear Readers, I'm getting a huge number of requests from you for #BTC ๐ช breakdown. - Let's start the day with it!
[I think it's no secret that in recent weeks Bitcoin has been feeling โto put it mildlyโ - not so good... there's trouble in the market, blood everywhere.] The reason for the disaster is simple. For 9 months the asset has been showing stunning growth ๐, its movement was within the framework of the global 3rd wave, but strength is not infinite - everyone needs rest! That is why we are now seeing a decadent mood.
Remember - 'the market is fractal, no asset can rise indefinitely'
Times are tough right now! It's always like this in the summer... another confirmation of the rule I said above ๐
So, most likely you want to ask me, "What happens next?" - let's figure it out! โ The current movement of the coin is in the 4th corrective wave, as a rule it is less deep than the 2nd one and ends at 0.382-0.5 ($42.107-47.785) Fibonacci values. From these marks I will wait for the reaction, until then I am in favour of the continuation of the fall with both hands!
๐ค I think we have the global situation completely sorted out. It is the right time to be confused ๐ on the younger Time Frame. The local structure looks more optimistic, here we can already think about a small growth within the rising sub-wave `B. Its end will come at 0.5-0.618 ($61.911-64.147) Fibonacci values, after which a new corrective sub-wave `C will start.
