OBVIOUS.. the triangle will broke on the downside to retrace at fib keylevel 38.2% from the ATH of December 2018,
that is also the 38.2% fib level of the retracement from the end of the 5th wave of the last month's bull run.
Expected downfall's stop at aroud 7400.
that is also the 38.2% fib level of the retracement from the end of the 5th wave of the last month's bull run.
Expected downfall's stop at aroud 7400.
Comment:
Comment:
Waves count tell's us that the retracement it's over and a new impulsive wave (2nd ) should start from now on. But it's not healthy and quite unusual to stop the retracement at 50% fib, usually it happends in a strong bullish market and this is not the case. Furthermore we are waiting ALT'S to pop up and we need money flowing into ALT'S sphere, for this reasons i think there will be more downward movement followed by some month of lateral rangin development till spring 2020 when the money flux will shift again and the next bull's run to a new ATH will start for BTC.
I don't exclude to touch also 23.6% fib in Q1 2020.
I don't exclude to touch also 23.6% fib in Q1 2020.
Comment:
Touched 7700 for little correction, fib retracing from here show 50% fib correspond to 50% fib of the major upward movement's retracement. 7400 corresponde to 120% from 7700, so confirmation to major downward move, straight to 7400.
Comment:
Comment:
Confirmed and fxxx xxx