Bitcoin takes a well earned breather
Bitcoin is trading at $94,060 (-3.92%), with the retreat from the $99,800 high viewed as a much needed pullback to work off overbought readings, rather than the start of a reversal lower or anything sinister. It also provides a reminder that markets, even crypto markets don’t move in straight lines indefinitely.
Looking ahead, the upside acceleration in Bitcoin post the US election is clearly impulsive, much more akin to a Wave III than a blow off type Wave V high we had been expecting. This suggests that after this pullback is complete BTC will push above 100k.
Looking ahead, the upside acceleration in Bitcoin post the US election is clearly impulsive, much more akin to a Wave III than a blow off type Wave V high we had been expecting. This suggests that after this pullback is complete BTC will push above 100k.
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