We came really far on these extended waves with very little retracements. I believe we will retrace .236 off of the 5 subwaves up of the wave 3 of the primary movement. I see us bouncing off of 9k and start another 5 waves to 11.7k to test that region before retracing. I believe many alts will finish their 5 waves up or finish their respective bullish wave to retrace with BTC when we bounce off of that 11.7k resistance making a triple top. I believe we will get a decent retracement off of the bounce off 11.7k and test 8k range and that will be the idea buy point for BTC.
Note
other possible points of target for the current retracement are 8.5k and 8.1kNote
Starting to lean on a ABC correction happening, where we just finished A and about to start B and finally C that will reach 8.5k which would be a very healthy correction level. If Alts hits targets or close enough during this B wave, good idea to take profits for now.Note
On track to the targets. Fighting key resistances on the way up. Similar to before, there are lack of retracements on the the impulse waves up.
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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.