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Bitcoin slows down for a higher degree A-B-C correction

Bitcoin slows down for a higher degree A-B-C correction
Gregor HorvatGregor HorvatWavetraders

BTCUSD hit projected target area for wave III and it's now turning down after the BTC spot ETF approval, ideally within a higher degree wave IV correction before the uptrend for wave V resumes. Looking at the 4-hour chart, we are tracking a three-wave A-B-C corrective setback that can retest 40k-38k support area, so after wave B recovery, watch out for more weakness within wave C.

Chart

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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