BTCUSD is nearing an interesting point of a confluence of reversal criteria (encircled). 1. The blue trendline has been well-respected 2. The fork median intersection with the blue trend line 3. 88.6 retracement of the major SL to SH (green arrow) 4. 88.6 retracement of the recent SL to SH (red arrow).
Clear 5-wave on the daily for ETHUSD. Multiple targets for reversal based on previous support. 5-wave valid even if point 5 is only slightly below point 3.
Pair looks likely to drop back to 127 fib level before bounce up- confluence with fork at same area should result in significant energy point for buy on USDCHF. Long time in downtrend, well overdue for a correction.
I drew this up probably 2 weeks ago.. and it's still totally valid. Price could also reverse at the 78.6 instead, but theres an area of previous consolidation right around 88 fib.
