Btc appears to be forming a raising wedge and should peak around 7750 to 7800 before we see a retracement/correction. The MACD is showing that momentum is dropping. The wave pattern for wave 3 is shorter than wave 5 thus wave 5 cannot be longer than wave 3 (7655)
(UTC+8) 11.38pm. BTC SHORT TERM:
BTC is currently retracing from the recent dip to $8300. Form the candles pattern, we can see that BTC is zig zaging up a Raising Wedge Channel. The most plausible Targets are $9800, $10200 and if the market is really bullish, we may see it extend to 1.62 of wave 1 +wave 3.. which may top of around $11000.
Currently BTC has...