Correction down for Bitcoin is coming
2024-10-19

Hi traders,

Last week Bitcoin did exactly what I've said in my outlook. It stayed above the Daily FVG, made a small correction down and another upmove exactly to the target of my arrow. So did you make some money? I did.

Now for next week we have to see what the market does. It could be making an ending diagonal for wave 5 and next week we see a correction down (wave 4 orange). Or wave 5 (red) becomes extended and price is now in wave 3 (grey) and continues higher next week for a new ATH. 

Let's see what the market does and react.

Trade idea: Wait for a bigger correction down into the Daily FVG, a change in orderflow to bullish again and after that a small correction down on a lower timeframe and trade longs.

If you want to learn more about my analysis, please make sure to follow me, give a like and respectful comment.

This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals.

Don't be emotional, just trade!

Eduwave