Last time I told you that Bitcoin should grow to $17200 before the crash. This pump is going to print wave C. Today we are going to consider the wave’s C underlying structure to reveal where the price can reverse.
Let’s take a look at the 1h time frame on the WHITEBIT:BTCUSDT chart. I suppose that wave 3 has been finished becuase it has already reached the 1.61 Fibonacci extension level, the natural target. Moreover, the maximal Awesome Oscillator value corresponds to the wave 3 top.
Now BTC is forming the wave 4. The most likely target for this wave has been already reached at the 0.38 Fibonacci retracement level. After a short sideways move I expect the last leg up in the wave 5 before the anticipated crash. Wave 5 has two targets. The conservative one is the $17070, the positive one is $17245.
Best regards, Ivan
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@SkyrexTrading, we have all 5 waves structure formed.16772 was third wave.16987 its final 5.Why you wait high zone i dont understand.Now is total correction move and wave C
Skyrex
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@almatradebusiness, because if we consider 100-140 candles, we should see the AO max value - it's wave 3 top. After that AO zero level cross - it means that min wave 4 end requirement has been met. After that we are waiting for the new leg up to create divergnence with AO, also fractal, squat candle and bearish reversal bar(it could happen even on lower time frame)