BTCUSD Waves. Under the microscope.(08.10.2017)
Yesterday we wrote that a triangle is formed in wave B (orange), and you can buy a break in the direction of growth. We did this earlier (by 4350), because saw the completion of the local correction and the retreat of sales.
Now we are in the emerging wave C (orange), and while there is a risk that the price may pounce from the level of 78.6% (4500) Fibonacci.
In order for the bullish variant to be further realized (the campaign is above 5000), it is necessary to break through / touch the price of 4700-4800.
Otherwise, we can get the continuation of the senior correction and the beginning of the downward movement in the region of 3000 and below. We will closely monitor the behavior of the price.
Perhaps the development of a new local correction or a trend change.
For latecomers, it is recommended to work from price correction with a short Stop Loss.
Now we are in the emerging wave C (orange), and while there is a risk that the price may pounce from the level of 78.6% (4500) Fibonacci.
In order for the bullish variant to be further realized (the campaign is above 5000), it is necessary to break through / touch the price of 4700-4800.
Otherwise, we can get the continuation of the senior correction and the beginning of the downward movement in the region of 3000 and below. We will closely monitor the behavior of the price.
Perhaps the development of a new local correction or a trend change.
For latecomers, it is recommended to work from price correction with a short Stop Loss.
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