Hi guys, updating my own analysis on BTC and decided to share. If all goes well and my wave count is correct we are having a small cool off as wave 2 before we commence wave 3 which should test 10k in the near future. Now this is a very short term analysis so is subject to change very quickly but at the time of writing we are at the 0.382 fib retracement of the initial wave 1 up. This is quite a light retrace which is why we are likely to go down a little more to the 0.5 or 0.618 fib at around 7-7.2k before we hopefully go up again. Now my my target for wave 3 is a little more than a 1 to 1 extension above the 10k resistance (Fib extension is on the left, Fib retracement right).
In terms of indicators RSI is still looking good forming higher lows the MACD is turning slightly bearish but that can change with wave 3 up so fingers crossed.
*This is not financial advice*
In terms of indicators RSI is still looking good forming higher lows the MACD is turning slightly bearish but that can change with wave 3 up so fingers crossed.
*This is not financial advice*
