BTCUSD - Correction continues
Updated
Bitcoin may be making a healthy correction which will last longer than expected. If the triangle where the price is trapped get broken to the upside with a wick above 5250 the correction is pretty much over, but what it looks is a triangle wave 4 before the last wave 5 down making what it could be the first impulsive wave of a corrective ABC from the last high at around 5500. If the price finally gets another impulse down and stopped around 4700-4800 that will be a good sign. Getting below 4600 implies a hell of selling pressure from bears, and a breakdown of 4200 could be the end of the bullish trend.
The signals that I sent to my telegram group were crystal clear, short. Our ETH position had a really good entry at 182 while in XBT we had an average of 5125. We didn´t fomo in the last wick up keeping our positions solid, following my last TA where I specified the next move of Bitcoin.
At the moment of writing we sit in both XBT and ETH with profits and a SL at entry price, so whatever happens now we can stay safe.
As always thanks for watching, don´t forget to like and follow if you consider useful this analysis :)
The signals that I sent to my telegram group were crystal clear, short. Our ETH position had a really good entry at 182 while in XBT we had an average of 5125. We didn´t fomo in the last wick up keeping our positions solid, following my last TA where I specified the next move of Bitcoin.
At the moment of writing we sit in both XBT and ETH with profits and a SL at entry price, so whatever happens now we can stay safe.
As always thanks for watching, don´t forget to like and follow if you consider useful this analysis :)
Note
The first 23.6 fibo target was already hit without further drops, so now is time to see an abc up.Note
So finally seems that we are making a textbook retrace with top at 38.2 fibo.
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