Bitcoin - Short term bounce to 7900$-8k
Updated
I have changed my count from my previous BTC analysis.
I believe this was more of impulsive wave to the downside.
The volumes on BTC are still extremely I don't think this will have enough momentum continue upwards to new highs.
The daily RSI reached oversold territory, and there was mutiple bullish div on 4hr and 6hrs so we should be seeing a bounce to reset the indicator before another dump on bitcoin.
I believe this was more of impulsive wave to the downside.
The volumes on BTC are still extremely I don't think this will have enough momentum continue upwards to new highs.
The daily RSI reached oversold territory, and there was mutiple bullish div on 4hr and 6hrs so we should be seeing a bounce to reset the indicator before another dump on bitcoin.
Note
BTC is forming leading A wave diagonal. It should touch 7600 before a retracement down to 7300. Note
I've changed my count a little. I think we just finished a 3rd impulsive wave towards down side and now are making the ABC to put in a fourth around 7800. BTC should bounce around 7230-7270 to 7700-7900
Note
BTC making its final wave C of the ABC corrective pattern in wave 4. I expect it to reach around 7700-900$
Note
BTC looks very weak. It might just form a double top. A lot of people are expecting 7800-900. I posted a new idea -
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