BTCUSDT BITTREX
There's a few different scenarios that I can see with BTC right now. It has found support and had a bit of a bounce off the 23.6 fib level and is heading back up to retest resistance at around 7500. Here we could either get rejected again forming a double top and would head back down to find buyer support. Another scenario that I can see is a possible Elliot wave formation, having already completed waves 1-4 and wave 5 forming now. A break above the resistance level would confirm the Elliot wave and I will be looking at taking profits at a higher level of resistance (around 8k) and looking for a new entry on the pullback.
Watching very closely!
Watching very closely!
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