There has been a strong bullish trend for crypto during the first part of the year - this can be analyzed as a typical elliott wave impulsive move. This more recent counter trend looks like an ABC correction - perhaps a higher degree wave 2.
The completion of this visible gartley harmonic could indicate a good entry into a strong impulsive move, especially if this can be counted as a C wave.
Any way... in the near term - next week or two - we could see more red. But, the gartley might provide a nice entry before the higher degree wave 3 rocket takes off.
The completion of this visible gartley harmonic could indicate a good entry into a strong impulsive move, especially if this can be counted as a C wave.
Any way... in the near term - next week or two - we could see more red. But, the gartley might provide a nice entry before the higher degree wave 3 rocket takes off.
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There's a similar pattern near completion on Optimism/USD:
