ETH/USD is now on the level of strong resistnace. Here is the cross of Fib level, support line and trend line.
So it possibly could go up, but looking at the ETH/BTC and BTC/USD it is more chance that it will go deeper down.
Looking at the log scale of BTC/USD it could be supposed that BTC did not reverse and we see just a price rally in a protracted correction (4th Wave) that can continue till the September'18.
In this period we probably will see several ups and downs and finalluy will see price of BTC at the 0,786 FIb level (round 4,5k).
Some people call BTC as CRYPTOGOLD, so I...
I've made full review of BTC/USD pair after 17.12.17 (ending of THIRD wave) when it began to fall.
It looks like we have big correction to previous wave from 17.12.17 to 06.02.18. It made Zigzag ABC and have structure 5-3-5.
After it began to grow and 20.02 we saw the end of the FIRST wave in the BIGGER FIFTH wave (THIRD wave finished at 17.12.17).
Now it is in...
I expect that BTC will check lower level at 7200, where a good opportunity for long.
It can go there by two ways: directly from current level (if 4 wave has been finished) or after retrying level 10200 (corrective wave is not finished).
BIgger view here:
What do yu think?