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Bitcoin / Tether
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BTCUSDT | 4H 535 Correction Complete | Target: 17.3k

By Exalt
BTCUSDT is close to completing it's 4H 5-3-5 corrective wave. The initial 5 wave led to 40% reduction in price and bottoming out at 11.2k with a subsequent 3 motive wave rebound to the 1.618 fib level at 16.5k. The final 5 corrective wave has been a muted with sideways motion indicating a shift from bear to bull. The final leg could be truncated and retrace to the 0.238 fib level or extend lower into the 11.2k range for one final bear trap. Once completed, this will trigger a bull run with a 1-2 wave setup challenging the top of the corrective channel, the 3 wave retesting the 1.618 fib level, and entering the 17k range via the 5 wave.

ETH: 0xcF29F645D7618f3F0588c2876A5A4d1CFec00a51

Elliott WaveFibonacciTrend Lines
Exalt

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