I am seeing a bullish HVF setup in the BTCAUD pairing. This is contra to most USD markets which are showing a descending triangle.
Everyone is seeing the bearish descending triangle which makes me sceptical. This whole bull market thus far has been the result of short coverings. I don't think that is about to change now.
Get ready for more shorts to get REKT and...
WXY correction move from 18311 to 12990 is 5 waves
move from labeled a wave to be wave is 3 waves if true wave C will be equal to A wave which fitts into a gap in the market at $9179-9425 will take time but this gap will be filled at some point
This chart projection is valid for all BTC vs Fiat. We are in a parabolic move that targets AU$900.51
In my opinion BTC will want to test the bigger number. $1,000 and could go even higher and stay sky high, as BTCs are of limited availability and still subject to laws of supply and demand it is hard to put a final price target.
It is interesting to compare BTCAUD vs BTCUSD, BTCJPY, BTCGBP, BTCEUR etc
pull up an Ichimoku chart and add Fibo retracements too.
AUD is leading the way !!! it is well above the 76,4% retracement, the other fiat currencies have some catching up to do.
Price above the 76,4% means there is a good chance it does a full 100% and test the highs.