Bearish scenario (most likely scenario):
Currently in a fifth wave down (orange) before correcting up. This is part of the bigger Elliot Triple Combo Wave (WXYXZ) since december 2017. RSI Indicator on the 4h and daily chart are not showing any signs of a trend reversal yet, but divergence is starting to form on the 1h and 2h chart. Expecting a bounce @ USD...
Hi there,
At the moment we are in wave C3 of the bigger ABC correction (the purple line) of Wave 1.
I'm expecting a bounce (wave C4) towards ~8250 (fib retrace .5) before we start wave C5.
Target end ABC correction: USD 7574 - 7895 (fib retrace wave 1 - .786 (USD 7657) | fib extension C1 161.8 (USD 7574) | fib extension C.C1 161.8 (USD 7895))
van Leth.
