After today's pump, it's clear to me that we saw a wave 3 that broke a channel trendline I had. Look's like wave 4 is starting to form now, we could see price re-trace to $7300-7900 and then followed by a further push up.
The bearish trend for BTCUSD should be done from this latest rally.
The bearish trend for BTCUSD should be done from this latest rally.
Note
I was a little too early, wave 3 just finished. It was 161.8 fib of wave 1. Seeing that Wave 2 was a zig-zag, expect the rule of alternation and wave 4 being a flat/flag. Can go anywhere between $7633.59-8278.32. The length of wave 4 should be fairly equal to wave 2.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.