Looking at the
BTC
chart, we are in a Flat Correction. This is similar to the first correction after the high in December.
Also, I have noticed that when BTC corrects it is fairly short and only retraces between 38.2% & 50% Fibonacci Levels.
The highest recent retrace was 61.8% after the First Wave 1 since the bottom.
I expect WAVE C to finish its correction between 123.6%-161.8%. I am leaning more toward the latter.
Stay thirsty my friends,
-AB
*Educational purpose only.
Cleared up the Chart:
BTC
chart, we are in a Flat Correction. This is similar to the first correction after the high in December. Also, I have noticed that when BTC corrects it is fairly short and only retraces between 38.2% & 50% Fibonacci Levels.
The highest recent retrace was 61.8% after the First Wave 1 since the bottom.
I expect WAVE C to finish its correction between 123.6%-161.8%. I am leaning more toward the latter.
Stay thirsty my friends,
-AB
*Educational purpose only.
Cleared up the Chart:
Comment:
Update:
We are still in the Correction. It might get ugly for a couple hours.
We are still in the Correction. It might get ugly for a couple hours.
Trade closed: target reached
Looking into the 1M Chart. It looks like BTC is trying to comeback, as I have labeled the 1st Impulse wave. This could be a sub-wave in Wave C of the Correction.