BITCOIN: CANDLES SPEAK: 12.05.2021

No change in the road map. As forecasted, BTC continues to bounce between 48-60k. The fierce drop was likely wave B of (B) and it does not look like the last wave of the overall correction. Let me hypothesize that wave C of (B) should be a diagonal.

There is a possibility of a new all time low marked as “alt(III)” in blue, however, consider this as a very low probability.

Forecast:

The coin is under bearish pressure on the daily and weekly frames. I expect it to complete the wave B in green this or next week.

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Previous Monthly/Weekly Analysis:

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