Traders, GBPCHF 's late-August five wave impulse advance from 1.22202 is approaching its upside termination where Fibonacci-Price-Ratio & Proportion measurements collaborate, highlighting a reversal zone standby, yet not confirmed. This Zig-Zag correction labelled X(circle) has started unfolding since 10.10.2016 from 1.17837 ( C impulsive wave's end). Wave (A),...
Bitcoin is currently correcting in wave 4. My preferred count for wave 4 is, that a running triangle is developing. Wave C is currently unfolding and should see support near 3,300 for a rally in wave D closer to 4,378 or slightly above. Before turning lower in wave E to complete wave 4 and setting the stage for a strong rally in wave 5. The ongoing decline in...
Both the Running Triangle and the Rectangle are continuation patterns. With the recent trend being down I would expect lower prices on a break of 1.2870. A break above the A wave high would target resistance and the 200 day MA at 1.4070.
Very difficult situation for farmers - opportunity for speculators.