BTC has shown extra-ordinary bullish behaviour in comparison to other coins in the market, with little retracement at all in the past 10 days. This may change soon: the 4h chart is showing a bearish divergence. The 1D RSI shows no divergence but reached overbought, which hints that despite a retracement, we'll still go higher in a few days time because of the upwards momentum. That's consistent if we consider we're in wave 3.
For some levels to watch, according to textbooks EW3 could lead us to 9k (fib 2.618 extension of EW1 from point (2))... i wouldn't expect that with the bearish div forming on 4H, unless it is invalidated by another pump very soon taking us in the >90 RSI range. A midway fib extension to ~2 would be 8.5-8.6k, from which a textbook retrace would be around 7.9k.
For some levels to watch, according to textbooks EW3 could lead us to 9k (fib 2.618 extension of EW1 from point (2))... i wouldn't expect that with the bearish div forming on 4H, unless it is invalidated by another pump very soon taking us in the >90 RSI range. A midway fib extension to ~2 would be 8.5-8.6k, from which a textbook retrace would be around 7.9k.
Comment:
Sorry this is a wrong post, the correct one is here :
