Updated

Are we going up more?

My second target which was around $9,200~$9,350 has been reached today. We can observe that bitcoin is still well maintaining its diagonal wedge pattern. It is either correction phase or one or few more pumps. I have recently changed my bearish perspective to bullish since most of the correction hasn’t fallen below 0.238~0.382 level and considering this I have also updated my wave counts. If we do get corrected now, my target for long positions remain the same as posted before. If we do get more pumps, which I would consider it as extended wave 5, I would target it around $9,600~$9,700. However, there would be nothing wrong if we experience correction before we reach that target. Be aware that bearish divergence signals started to show on 1hr and 4hr chart and RSI for day chart is getting close to 70. So always be prepared to respond to any circumstances.

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Also keep in mind that we will heavily be resisted by the upper trendline of the wedge.

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short-term target

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Short-term wave cycle confirmed and possible bullish flagpole pattern

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Some correction as soon as target reached

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Possible bounce region

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Possible wave counts for correction.

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trying to break the downtrend line

Tommy_Trader

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Tommy_Trader

토미 라이브 차트 보기: litt.ly/tommytradingtv

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