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Bitcoin Price Today | Bitcoin Price Chart Analysis for 16th November 2023

Bitcoin moved swiftly towards high of the start of Wave A indicating that internal wave 4 is completed. Here is the chart for your analysis. Bitcoin pull back for internal wave 2 is awaited.

Bitcoin wave 2 pull back

Back in 2021, lot of trades for pull back went to 86-90% retracement. Elliott wave theory says that wave 2 retracement typically go to Fib 61.8% level, however with Bitcoin it goes much lower at times. The best way to understand the retracement is over by looking at RSI, following a trend, or if there is a trend line breakout. Do you have a better method? Comment below.

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