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What Is a Gap? Gaps are common when news causes market fundamentals to change during hours when markets are typically closed, for instance an earnings call after-hours. Is it gap closing season? It is highly probable we will see the last 5 wave correction as C of ABC.
If so it may be equal to 1 year length in terms of timing. The crypto market has recently been talked about as a potential inflation hedge asset aside from the commonly accepted asset such as gold. Several banks and payment gateways are starting to open to the crypto market too.
While I will be interested to acquire some bitcoin myself, now may not be the best timing. Should price retrace back lower potentially towards Sort of Joking My attempt at Macro Predictive Analysis. Likely to get filled. Despite we are so close to new all time high, I am not recommending buying right now. My EW count was wrong in my previous analysis, I was assuming, that the 5-wave cycle is completed, but we got another wave to the upside, but this should really be the last one.
We have decent bearish divergence on RSI, which often indicates end of the cycle. Bitcoin very likely finished 5-wave move to the upside, now we should continue down into that grey support zone, we should bounce up from that zone and then continue higher. Active trader.
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