Down we go!
Textbook proportions: wave 3 = 3.618 times the length of wave 1, wave 4 = 1.618 times the length of wave 1. Now it's time for a correction, most likely ABC. The big question, once again is how deep will we retrace? I'm on the fence: VPVR seems to indicate 0.5 for BTSBTC which is definitely feasible given the bullish rumors. On the other hand VPVR for BTSUSD seems to favor a deep retracement, to .786-ish levels.
What do you think?
What do you think?
Note
The 10% increase in BTCUSD has shaken things up a bit and stopped BTSBTC's descent short - the markets always have a surprise ready for us!Given the changed circumstances a flat correction could be likely. I don't think we're going to surge beyond 3100-ish values just like that without a correction, especially given the divergence on the 4hr MACD.
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Disclaimer
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.