From the 19th August top at 17992, Nifty has fallen in 5 waves impulse (1H) which suggests the short term trend is down. After completion of 5 waves down, Nifty rose in a corrective pattern (ABC) and stopped around 61.8% retracement which gives confidence that the rise is indeed corrective. From the C made on…
BTC has broken down from a bearish channel/flag with good volumes. Minimum we’re looking at is around 20K (height of channel). Trading around $20750 as of writing this. However, if we consider the flag pattern then the downside would be much deeper, around $19K.
This is weekly chart of Bitcoin. From start of 2019, Bitcoin (BTC) has been in a clear 5 wave impulse which ended in September last year after seeing a peak price of $69K. Since then BTC has been in corrective mode. Earlier it looked like regular zigzag (ABC) correction and my assumption was that downside…