We are losing levels, small downtrend confirmed, with lower highs, and we failed to gain 8460, which shows great weakness. We should test the trendline for sure and it's very likely that we visit 8130. We also have decreasing volume, we will need a spike to confirm the move to the downside.
NOTE: there is a big bullish divergence on most indicators, be very...
The cup&handle couldnt be more beautiful, it looks perfect. The trade is (3.3:1). We have a couple of level on the way up 5000sats (0.618), 5280sats and 5786sats (0.786).
Wait for the expected move down on BTC (Wave 3, watch RELATED IDEAS below). BTC will drag down most alts with her, that would be an even better entry
I expect one last leg down to 8460 as an ABC correction, C wave could go down to 6500 but B was too extended for that to happen. We are also at the 0.236 all time high as a resistance. Also we have my beloved RSI bearish divergence.
I will short this (3:1) wave down and enter a long position after.
IF BTC BREAKS 9520, THE COUNT WILL BE INVALIDATED AND WE WILL BE...
As the title says, i expect another wave down to the downside and we will reevaluate. the C is a retracement to the 0.5 fib, with is also a big support we built on the way up.
Keep an eye on volume as always.