This is my current views and estimate of the current Bitcoin movements. It seems to me that the move from Dec 16th to Jan 20th has made a Leading Diagonal as a wave 1. Currently we seem to be losing short term momentum and am thinking we will make wave 2 of wave 3 in a cycle. Wave counts were made using Fibonacci retracement and extension tools but are rough estimates.
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current view of wave 2 correction of wave 3 in a cycle
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Current thoughts
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Green trend line shouldnt hold. Thinking we are going to continue this small correction
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Current estimate Thinking we are still in a micro correction Could fall anywhere between $9700 to $9100 (even $8700) Will be watching for the higher low to form
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An estimate
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Parabolic micro correction?
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Current estimate
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My wave count must have been wrong Correction is too steep to fit into previous model
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Showing the Fibonacci extension and retracement pivots