DowBits

BTCUSD - Have we seen the top? What to expect next

Short
DowBits Updated   
POLONIEX:BTCUSDT   Bitcoin / Tether USD
BTCUSDT
Ok, We might have seen the top or at least for a short term. In the coming sessions, the first thing to confirm will be the 5 wave down movement at the micro level. This will confirm that further selling pressure will resume after a-b-c rally. The short term target will be the bottom channel line in blue. From that point, there is a possibility for another rally labeled as wave V circle. This may or may not happen as the minimum wave count requirement has already been there. If it turns there will be short-term opportunity to ride a short uptrend.
Comment:
Five waves within wave iii confirmed. The next target will be the second green support line.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.