BTCUSD
Looking at the chart of Bitcoin, it is very extended on the short term, and at least, a small correction is due.
Based on my short-term Elliott Wave Count, starting form the $5,500 dollar level, we are about to finish a short term wave 3, today or tomorrow, at about the $9,700 level. From here, I’ll be expecting a wave 4, that should last about a week or so, that should take us back to around $8,000. Before a 5th wave resumes and takes us to $12,000 or higher before year ends.
Also, short term MACD indicator is on sell signal.
Good Luck to You
Comment:
I just wanted to point out that the RSI in the daily chart is at a level where previous corrections started.
Comment:
China attacking Bitcoin again, consolidation has started.
www.coindesk.com/chi...-violate-regulation/
www.coindesk.com/chi...-violate-regulation/
Trade closed: target reached:
Now that we have retrace about $3,200 points from the top of about $11,200 to $9,000 in Bitcoin, in a two wave move, abc, the decline that I was calling about in this post may be over.
Good Luck in your decisions.
Good Luck in your decisions.