Bitcoin : Little Correction Coming
Dear TWA followers,
With some bearish corrections in the middle Bitcoin has shown a massive rally from its double bottom. At this point the bulls might still have a space to push up some more levels even though it seems we must see a correction in short period since wave 5 is almost done seeing it from a technical perspective. The RSI is overbought. Strong resistance is found around 9800 and 10500.
From this point we might see a three corrective wave and we might be going first to the 23.6% fib ret. level at 8640.3 USD and if bears continue manipulating to the 38.2% fib ret. level at 8217.0 USD. Good luck on your trading.
With some bearish corrections in the middle Bitcoin has shown a massive rally from its double bottom. At this point the bulls might still have a space to push up some more levels even though it seems we must see a correction in short period since wave 5 is almost done seeing it from a technical perspective. The RSI is overbought. Strong resistance is found around 9800 and 10500.
From this point we might see a three corrective wave and we might be going first to the 23.6% fib ret. level at 8640.3 USD and if bears continue manipulating to the 38.2% fib ret. level at 8217.0 USD. Good luck on your trading.
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.