Hi Traders
Scenario 1:
BTC 2.51% has just finished minor wave 4 correction of intermediate wave (1) of primary C wave correction from ATH 0.08% .
Minor wave 5 is yet to come. Target $7800-8000 - .618 fib retracement
4 hourly has closed doji reversal.
RSI is sufficiently high enough to enable further drop.
EMAs have crossed.
Bearish trend on weekly RSI confirmed with 3 points of contact.
The following week will be interesting. Expect a decent intermediate wave (2) ABC correction upwards after minor wave 5, before downward intermediate wave (3) of C begins - this will push us down to previous low.
Scenario 2:
Still working on it! lol
This is not trading advice, purely for education.
Chur
Scenario 1:
BTC 2.51% has just finished minor wave 4 correction of intermediate wave (1) of primary C wave correction from ATH 0.08% .
Minor wave 5 is yet to come. Target $7800-8000 - .618 fib retracement
4 hourly has closed doji reversal.
RSI is sufficiently high enough to enable further drop.
EMAs have crossed.
Bearish trend on weekly RSI confirmed with 3 points of contact.
The following week will be interesting. Expect a decent intermediate wave (2) ABC correction upwards after minor wave 5, before downward intermediate wave (3) of C begins - this will push us down to previous low.
Scenario 2:
Still working on it! lol
This is not trading advice, purely for education.
Chur
Looks possible on the daily chart...
Just completed intermediate wave 2, and starting intermediate wave 3. This would push the lows way down to between $3700-6000 range - depending on whether it is a 1 or a 1.618 of intermediate wave 1. Will need to wait for a few days for some confirmations.