kmac2326

kmac2326

We find BTC finishing it's 5th wave towards our hard resistance formed since December, forming an ending 5th wave diagonal, starting an extended to 5th to finish off the apex of the wedge. Targets for my short will be $7,980-$7,800

kmac2326 Updated 

Target 1 has already been hit from my previous post on Bitcoin Impulse Wave Failure WXY SHORT Targeting $8,200 and $5,800

kmac2326

Targets 1 and 2 have been hit from my previous TA beginning this C wave. We will be targeting $6,000, retesting the previous bottom a few weeks back. If we get an extended 5th wave then we can target to a low of $4,500 which also supports our 1.618 fib extension. Retracements are very weak which shows strong bearish sentiment.

kmac2326

We take the size of our head of 11% and use that to target the breakout of our right shoulder. We also get a 1:1 fib to support our target.

kmac2326

Impulse wave failure denotes it as an X wave which we will now start a WXY pattern. Short targets are $10,200 region which are also support by fib extensions. Continuing from my previous post of the Ending 5th Wave diagonal.

kmac2326

Decrease in volume along with the ending 5th wave diagonal signals for a break down. Yellow box for targets

kmac2326

Fib Targets 1 and 2 have been hit. Target 3 can be possible if we break below $80 on the hourly candle. Upcoming BTCP fork on the 28th should bring an impulsive wave up to newer highs

kmac2326

ZCL targets for wave Y Will wait for an impulse wave up before we can forecast potential sell targets once we get closer to the BTCP fork on 2/28.