Based on the Elliot wave theory, the pair still has some room to go with a projection to 4800 before a major correction occurs.
Kommentar:
Almost at the minimum target now as wave 5 is at least equal to wave 1
Kommentar:
Minimum target hit yesterday and re correction seems to be in effect. For confirmation a close below swing lows at 3600 is needed although a topping pattern is already in full effect as we have a bearish engulfing candle subject to a close on its lows
Kommentar:
Correction well underway now. Yellow line is the main area as a target but we need a close below 3600 swing low.
Kommentar:
Swing low at 3600 taken out. A close below is very bearish. Be careful as we could see a retracement soon before we move into 3000
Kommentar:
Critical Level for BTCUSD reached!
Kommentar:
BTCUSD into support and bounces right off