I'm always looking for significant pivots on the Bitcoin chart. Last years candle was very significant to me. For the first time ever Bitcoin printed a bearish engulfing candle on the yearly timeframe. As of now I'm looking at this move down from that top to be a 4th wave correction. Time will tell but so far it looks good. It is not likely Bitcoin runs up to new all time highs anytime soon. It is more likely to see price move a bit more up to grab the liquidity at the top of the candle body around 49K and then continue down to complete the 4th wave correction. As of now this looks highly likely
