Technical analysis by MesutKose about Symbol BTC on 5/20/2024

This chart is a continuation of my May chart and expectation. I stated my expectations for the second stage on the chart. Fib. I purposely pulled my extension from the correction waves. This structure has worked this way many times before. However, it is necessary to consider alternatives. This time I have two scenarios. The first is a correction from 76k or 80k. The second is a retreat from the top of the range to the 0.5 balance point. I am in favor of the first. However, the second one is also reasonable and will not upset you. I bought my expectation at the beginning of the month. I will move forward by realizing profit. It ended at 1 on the low time frame in terms of Elliott principles. We are looking for 3. Wherever 3 ends, that's when we think about 4. We should not jump off the train just because the RSI and some indicators are overbought but inflated until they give negative divergence. Peace be upon you.