BTCUSD
Starting from the March lows, we started a new impulse wave to the upside, from which we already trace Minor Wave 1, Minor Wave 2, and looks like we are about to finish Minor Wave 3 very soon. After that, I expect Minor Wave 4 to follow, which should take several weeks and retrace some of the previous advance, as shown on the charts, follow by Minor Wave 5 to the upside.
Minor Wave 4 should be long and deep enough to allow the 20 and maybe even the 50-day moving average to catch up with the price. Also, the RSI is deeply overbought, well need to correct that by consolidating for a while.
Is hard to pick tops, but it looks like we are close to a short to mid-term top right now.
I hope you find this interesting and good luck to you.
Starting from the March lows, we started a new impulse wave to the upside, from which we already trace Minor Wave 1, Minor Wave 2, and looks like we are about to finish Minor Wave 3 very soon. After that, I expect Minor Wave 4 to follow, which should take several weeks and retrace some of the previous advance, as shown on the charts, follow by Minor Wave 5 to the upside.
Minor Wave 4 should be long and deep enough to allow the 20 and maybe even the 50-day moving average to catch up with the price. Also, the RSI is deeply overbought, well need to correct that by consolidating for a while.
Is hard to pick tops, but it looks like we are close to a short to mid-term top right now.
I hope you find this interesting and good luck to you.