After a spike to $7800, Bitcoin recedes to consolidate around $7300 - 7400 level, which also coincides with the Pivot point and heaviest trading volume range.
As the price shows no major movement during the daytime with subdued volume. Most likely, Bitcoin would continue zig-zag for some time then decide its direction. The next movement would be an intermediate...
I see that GBPUSD has been in quite a strong uptrend for some time now and has began correcting.
I have labelled the correction as a zig-zag followed by a flat. It does have the potential to become a more complex correction,
however, it is looking upside regardless if it continues correcting or resumes the uptrend.
I have drawn out how I see the flat to have...
GBPUSD looks like it has finished the 3rd wave and has began correcting.
I would expect price to climb to the 61.8 to 78.6 % fib retracement level finishing the B wave.
I then would anticipate price to fall down the the 161.8% level of wave A.
This would complete the first of possibly 3 corrections.
If entering, I would wait for a larger/engulfing bullish...