Bitcoin: Double Zigzag and a Potential Bullish Breakout?
2024-12-21
Category: None

Currently, I am marking Bitcoin’s movement as a correction in the form of a double Zigzag (WXY). However, Bitcoin often exhibits the ability to extend waves without altering the broader structure...and we can fall further down.

The bullish scenario will take precedence if the price breaks above Wave X at 102,740. That is, of course, unless the market transitions into a larger triangle pattern, which could extend the corrective phase for a while longer.
