Good evening Ladies and Gentlemen. BTC did it's movement to the upside and it shows strong signals of Resistance at the Levels around the area 6500. Anything between 6400 to 6530 is good points to enter the trade and short it. The dump is expected to go down to 5510 minimum and 4820 maximum as the midterm analysis is showing. The Stochastic already showed us a divergence which further indicates that the dump is expected to happen anytime soon. Levels for invalidation to watch out. Our wave 1 starting point begun at the 6980 area if we go higher than that then we should say that we reached our invalidation point.
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As you saw yesterday after some hours my analysis started to play out. This was the beginning of a bigger wave 3 formation that we were expecting. Those that missed the entry at better levels around the 6500 area can enter a short at the mini-wave 2 if they get a chance around 6385 to 6415 and keep a short term target at around 6000 area or bigger target of big wave 3 at around 5510 minimum and maximum 4820.We got further validation with the 4hour negative divergence that happened yesterday as well.
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We can see strong resistance at 6280 area. I suggest to take half profits here and move stop loss to Breakeven point. Let's wait to see if the rest dump will come soon as we expect it.
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It is wise to move Stop Loss at the line which is the beginning of the smaller wave 2 to avoid loosing profits in case anything going bad. BTC seems to keep moving downwards slowly and steadily for now.
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Stop-loss got hit at a point where this analysis was still earning some good profits. (First entry area was 6400 to 6530 and stop-loss was at 6330 after the last update. It was wise to move the SL there I hope you got the update on time. After this pump moving into another count will update you soon.
