BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
BTC is at least cooling down from a furious rise in just 3 days. This strength is typical of the midst of a complete move, being often a third of third according to Elliott wave principles. This implies we will see sideways action then followed by a resume of the uptrend, but with less momentum. Current pull back is not expected to be deep, and 38.2 % retracement @ 4775 shall offer good buying opportunity. This sideways will allow Stochastic to retrace from overbought territory.
Unless 4050 is broken, keep looking higher.

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