TradingView
Northside
Jan 27, 2020 5:28 PM

Low volume B wave push to 8800 to end with C wave to 8000 Short

Bitcoin / United States DollarCoinbase

Description

This low volume B wave up to 8800 looks to be exhausted. Next target to complete the ABC correction from 6850-9200 looks to be at 8000 where the downward trend line from July, bottom of current downward channel, and pitchfork upward channel all converge. 01/29 looks to be the date so this would require a relatively quick and sharp drop. Stoch and RSI are overbought on the 4hr and lower TFs.
Comments
Northside
Made it all the way to a double top at 9188. Let’s see if this was just a suckers rally followed by a sharp drop to the .5 (8k)
Northside
Looks like BTC insisted on touching the daily 200MA before its inevitable fall to the 4HR 200 / .5 fib retrace.
Northside
PersianAnger
I agree on low volume and believe this bullish move is not authentic. Your prediction of 8000 is pretty wild, yet all your work lines make sense.
More