After wave 4 correction, with nice precision on target 470, now we expect last uptrend movement of wave 5.
First target is the double top area 540/560 around the brearish trendline.
If w5 will be strong enough for break the resistance the second target is in 620/640 area.
Test of resistance at 500$ area that was a good target area for 3 or C wave, like said in the previus charts.
Now we have two different way:
- we are in a new bullish structure, so we now have correction in wave 4, with target aroun 465 at 38% retracement of wave 3; then will come wave 5, maybe in extension form (becouse 3=1)
- all up structure was only a...
After the first up wave with impulsive charateristics (structure in 5 wave), now we are in abc correction. Target could be around 390$ where we will see a nice and heavy bounce with price that will break 450$
After new low in big support area 0.021/0.023, now we have new uptrend and new support static area in 0.025. Resistance 0.026 will be break soon and next are at 0.029 area (+15% about). Could be interesting switch some btc in ltc for short term speculation
Early to say, but today some first signal of reverse. After rising wedge, new downtrend wave with new low. Target reached and spike low. The fast recovery of support in area 400$ and che piercing line on daily chart are first nice signal for a major reverse. We need some other confirms, but now we can be little more optimist than yesterday.
Nice supporto area around 410/420$ where new uptrend started, but yet not impulsive structure. On chart we have rising wedge with short bias. I prefer be neutral becouse we have huge support below; 445/455 critical area to watch