Textbook proportions: wave 3 = 3.618 times the length of wave 1, wave 4 = 1.618 times the length of wave 1. Now it's time for a correction, most likely ABC. The big question, once again is how deep will we retrace? I'm on the fence: VPVR seems to indicate 0.5 for BTSBTC which is definitely feasible given the bullish rumors. On the other hand VPVR for BTSUSD seems to favor a deep retracement, to .786-ish levels.
What do you think?
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The 10% increase in BTCUSD has shaken things up a bit and stopped BTSBTC's descent short - the markets always have a surprise ready for us!
Given the changed circumstances a flat correction could be likely. I don't think we're going to surge beyond 3100-ish values just like that without a correction, especially given the divergence on the 4hr MACD.