FX.co ★ teagan.orn | #Bitcoin chart analysis

Yes, Bitcoin has been surprising with its mixed volatility in recent days. However, the flat structure as a corrective 4th wave on the daily chart remains valid. Only its final wave "c" takes the form of an expanded ending diagonal, as the end of the 4th sub-wave in wave "c" entered the price range of the 1st sub-wave. If this is the case, then the current decline of the asset as the 5th sub-wave must necessarily update the minimum of the 3rd sub-wave (value 78,216). At the same time, it should not drop below the level of 73,860 indicated on the chart, as this would violate the impulsive structure of the weekly ascending impulse. And after the completion of the 4th daily corrective wave, it is logical to expect a resumption of the northern development of Bitcoin as the 5th wave of the higher impulse. If the asset's development does not go "as planned," it will be necessary to review the structure of its current wave formation.