Beautiful BTC correction!
Updated
A lot of volume on that surge downward and we have broken through the bounds of the uptrend channel on the down side. It's obvious our bull impulse wave has completed. I have one idea on the chart that perhaps the end of the 5th wave happened earlier and we have been in a correction ABC wave for a few days now after the pump up to 7430 on September 2. We haven't reached that level again so this is possible. The guesswork now is which wave of correction we are on and how far will it go?
Well, we hit down and touched the red resistance/support rectangle that has been on my chart for over a month now. It is still showing its strength at this level. Will it hold? Unlikely. This FIB retrace is only barely beyond .236, so I would expect a bit deeper retrace before heading back upward.
Have a Great Day!
Well, we hit down and touched the red resistance/support rectangle that has been on my chart for over a month now. It is still showing its strength at this level. Will it hold? Unlikely. This FIB retrace is only barely beyond .236, so I would expect a bit deeper retrace before heading back upward.
Have a Great Day!
Comment
Is the correction over? Ascending triangle indicates we are about to go up! If you haven't gotten in yet, now is the time! 
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