Hello, everyone!
There is a very tricky market situation on the Bitcoin price chart. On the one hand I told you that anticipate the consolidation below $30k, but BTC is not going to break it through. On the other hand, I don't fully understand the Elliott waves structure.
I consider that the rapid dump couple of days ago was the wave 1. Now we can see the some sort of corrective wave 4. If I am right the target for the wave 3 is located at 1.61 Fibonacci extension level, approximately $25500. Now I don't have trade on Bitcoin, but have short opened on ADAUSDT.
Price now is below the Williams Alligator indicator and Awesome oscillator demonstrates the increasing downward momentum. I consider now that the dump now has higher probability than pump from current prices.
Also I have another one argument that this is the end of this tricky pump. On the chart 2 I show you that on the daily chart we have the squat bar at the top. Squat bar is the strong sign of reversal.
Best regards, Ivan
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