BTC currently on wave 1 and already breaks 23% global Fibonacci line after recover from ABC correction for almost 40 days. Its already at the top of the Keltner Trend and there is a lot of space to go down back to 45k. If wave 1 ends here, correction for wave 2 have a potential to bring back down BTC to 45k, but if the 1st wave continue to break 53k and peak somewhere at 50kish, wave 2 will most likely ends at the current level of 49k. Lets see if the fibonacci line holds which also being supported by EMA 7 & 20 and pushes BTC even higher or it breaks and let BTC going downward back to 45k. If we look back into july, wave 1 BTC was peak under EMA 7 & 20 and was unable to break it up, forcing BTC to go back down to the level where wave 1 started to find more liquidity. But now the case is different. Either way, RSI seems very promising.
Comment:
today BTC going down to 46k, I think that is the bottom of wave 2, now ready for the rally