Bitcoin is forming an inverse cup and is surely going to fall.
The Elliott correction wave theory also supports this.
According to Elliott wave theory, after every 3 bull runs, there are 2 bearish runs - each bigger than the previous.
This can be seen in April's chart when bitcoin first fall on the 18th and then was seen regaining strength, but it fell big on the 25th.
Similarly, the fall you saw was the first one and what's happening in the market right now is short gain. The next fall is going to be bigger and bitcoin is likely to touch 44400.
Follow me to see more such trade analysis regularly.
#NFA #DYOR
The Elliott correction wave theory also supports this.
According to Elliott wave theory, after every 3 bull runs, there are 2 bearish runs - each bigger than the previous.
This can be seen in April's chart when bitcoin first fall on the 18th and then was seen regaining strength, but it fell big on the 25th.
Similarly, the fall you saw was the first one and what's happening in the market right now is short gain. The next fall is going to be bigger and bitcoin is likely to touch 44400.
Follow me to see more such trade analysis regularly.
#NFA #DYOR
