BTCUSD - Weekend Outlook - Elliott Wave Analysis

Guys Bitcoin has been in a very complex correction since the end of the recent May 19th decline. It has formed a sideways pennant / triangle consisting of ABCDE Legs of 3-5-3-5-3. I believe we have now come to the end of this correction since the Overthrow of the E Leg high at 39407.55 on June 3rd. Price has shown bearish impulsive price action on Friday to the other side of the triangle and is now correcting back into the triangle where I anticipate a small abc correction up to about 38000 where I will look for shorts to enter the market for a 3rd Leg decline.

Good luck and safe trading!

Комментарий:

Looks like Shorts may have already started to come in at 37500.