BTC is currently going through an ABC Zig-Zag correction. We have had 4 waves down in the current Primary C wave and are preparing for the fifth. Here is an overview of the entire corrective count.
Here's a closer look at the current subwave count:
As you can see, we have a Zig-Zag correction for the 4th wave. It has also formed a bear flag that is confirmed by volume!
If we take a look at the MACD and RSI, we can also see some bearish divergence:
As for the time frame, I believe this wave down might take around 3 days. TA is normally indicative of price pathway (not timeframe!), but we can see a clear pattern amongst the timeframe for the last 4 waves.
Happy trading, folks! Feel free to comment with any questions you might have.
Legal Disclaimer: This is only my opinion. This is not advice nor recommendation to either buy or sell anything! This is meant for entertainment purposes only.