As long as BTC doesnt break up through the blue trendline, I'm awaiting further downside towards the blue box to complete the ABC correction.
Right now in a pennant and could break any moment, or do one more leg up.
The flat pattern which I showed this morning on Twitter is also still a bit in play but normally the spike down invalidates this pattern. But all other movements fit in a flat pattern. In that case we already made last leg up and as this flat is Trend Continuation Pattern, it should go down.
Fundamentally: more and more rumours about bad news from China....
Be cautious, check your alts and dont become a badholder if this plays out.
Right now in a pennant and could break any moment, or do one more leg up.
The flat pattern which I showed this morning on Twitter is also still a bit in play but normally the spike down invalidates this pattern. But all other movements fit in a flat pattern. In that case we already made last leg up and as this flat is Trend Continuation Pattern, it should go down.
Fundamentally: more and more rumours about bad news from China....
Be cautious, check your alts and dont become a badholder if this plays out.
Comment:
We may get some correction here, before final push to complete the ABC correction
Comment:
We saw the break out and made a bullflag.
Projection some fibo extensions, which I always use for target determination, I've come to the following possible path for a last push into the blue box around 3500
Projection some fibo extensions, which I always use for target determination, I've come to the following possible path for a last push into the blue box around 3500
Comment:
Target reached, I'm expecting a bounce in this area
Comment:
Forgot to post the chart
