Bitcoin is down another 4.6% after heavy losses over the weekend. Will the rout stopp at the Fib projection levels based on Elliott Wave theory? BTC/USD Daily Chart Bitcoin has been following Elliott Wave theory to the point recently. This is an example of the theory working to catch the pullback (https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-the-harmonicity-continues-on-the-hourly-chart-202003052208) Now the bottom of the pattern has been broken the market will start to look for targets. The next target would be the 261.8% Fib extension level but this current support will need to be broken. The current support is the consoldation high from 23rd December, Then if that is the case the main low of 6,432.04 could be the major target low. Additional Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/CAD retreats further below 1.3600, still heads for highest close since 14 months FX Street 3 years Bitcoin is down another 4.6% after heavy losses over the weekend. Will the rout stopp at the Fib projection levels based on Elliott Wave theory? BTC/USD Daily Chart Bitcoin has been following Elliott Wave theory to the point recently. This is an example of the theory working to catch the pullback (https://www.fxstreet.com/cryptocurrencies/news/bitcoin-price-analysis-the-harmonicity-continues-on-the-hourly-chart-202003052208) Now the bottom of the pattern has been broken the market will start to look for targets. The next target would be the 261.8% Fib extension level but this current support will need to be broken. The current support is the consoldation high from 23rd December, Then if… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
