This is the wave pattern I am sticking to unless we break to a new high above the trend line (WITH MOMENTUM).
If the price goes above the trend line in divergence to indicators then I am a seller and staying short (false break).
The wave analysis shows 4800 minimum for wave 5 if the bearish trend line holds and the price plays into the forecasted support and resistance. Otherwise, the wave 5 was truncated and I drew it out wrong. No biggie, I will buy a little higher with a guaranteed trend instead of buying here and it drop to $4800.
Nice Chart Mate. I have a very similar count. However I am becoming a bit concerned because if we are in a 3 of 3 wave we should be looking for a sharp and steep drop in an impulsive manner. While it can still do that price seems to have stall and starting to look a bit more corrective. Anyway I am looking for a new low while we trade below 7400ish. Let's see how see unfolds. Thanks for sharing and good luck trading.
Daily Chart:
4HR Chart:
WaveRider1423
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@tuamen, alternate bearish count and still consistent with the larger ending diagonal:
CryptoMarket360
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@tuamen, check out my next chart.. could be a rare reversal
Daily Chart:
4HR Chart: