Bitcoin is in strong daily channel up. I made this Elliot wave count on recent waves. We're seeing these bullish triangles and keep making new highs on 4h. Although we are struggling to make larger moves to the upside.
I see final push higher to 4143-4159$ region if we can hold 4060-70 on 4h.
Failure of climbing higher than 4190$ and closing above would cause...
USDCAD made a great impulsive move during NY session, now i see a clear pullback, i expect further upside move tomorrow.
USDCAD is the most bullish pair i see on higher timeframe, expect it hitting at least 1.37 in a couple of weeks.
It looks like wave (5) is an extend wave that equals to approx. 2.618 multiple the total distance from the beginning of wave (1) to the end of wave (3).
If the recent high of 445.88 is the end of wave (5) , we could expect a large correction to unfold in the next couple of months or even years e.g. (A)-(B)-(C)
As you can see we have classic Forex pattern combo move...
"Impulse - correction - Impulse - correction " (patterns withing the pattern)
I would not go long on next Impulse because we are getting close to doubble top and because we are in assending channel which is reversal pattern....
So we have two options here , One is to break down soon on this 3rd touch or...
After a strong impulsive wave up GBPAUD has been moving very correctively down.
If price does make it down to .8000 handle will be looking to go long.
Until then will consider getting in if we start to see bulls enter market and break north.