Bitcoin one last leg down
Bitcoin 240 mins chart
Analysis
As expected last week Bitcoin continued to move in a range of $22000-23000 levels. As of now prices are moving down with very less pace and possibly making a bullish reversal pattern. This pattern is still in making and cannot go below $21000. The falling wedge pattern will continue to make price move in the above mentioned range.
From Waves perspective, prices are moving in wave ii in which it completed wave a and wave b in triangle pattern. Wave c of wave ii is still ongoing which is possibly in ending diagonal pattern, which once complete will open wave iii higher.
The summation is Bitcoin will continue to move in a range of $22000-23000 levels with support of $21000 placed. Once this down leg is done it will then achieve the level of $28000 followed by $33300 levels.
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