Wave 3rd drops too deep and that's why it's not the pattern ABC but 1-2-3. Likely, wave 4 is now formed (top below 3900) and wave 5 must be expected as wave 1. Targeting to 2700 area.
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Resistance 3800 broken. Likely, my forecast of 5th wave wasn't successful. But resistances in 3900...4200 area still ahead and and we'll probably get a retrace (not a 5th wave).
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You can see the humble ABC, down to 3460. If price hits above 3740, it will show a strong uptrend. Above 3740 target 4000:
I'm more inclined to look at this whole corrective move as an ABC, with your 1-2 as A-B, and your 3 being either 1-3 of C or 1-5 of C (IMO it isn't too deep in EW terms). The price pattern during the next week will tell us if the correction is over of whether we have still one more leg to go as as 5 of C.
yeshuyesh45
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whats happening now?
Like2Move
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@yeshuyesh45, an attempt to ascend or fall. We will see the trend goes down or extends up.
someone was buying 2750 BTC in bitfinex at a higher price to keep it at 3600 .. in other hand china was dumping at 2900 while others exchanges selling at 3500 .. wat do u think
JoeyRosac4
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It looks like a 5th wave is likely now. The weekly chart doesn't convince me that the fall is over. Especially with the $2,200 stigma in the air from Goldman Sachs. What do you think?