The price of the most popular Bitcoin cryptocurrency rebounded after a fall from last week to the level of $ 16, 416. This level is 61% of the retracement of Fibo of the previous downturn, marked on the chart as A? Wave. IF the correction of the fourth wave (4) will develop in the form of the ABCDE triangle, then a few sub-waves have to be completed to finish the correction. The goal for the wave (5) is still min. 25K, according to the previous analysis, on which I presented projections of the ranges of individual waves.
I THINK IT WILL GO BACK TO 11K..NEW YEAR COMING...CASH OUT AGAIN
sebastian.seliga.7
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@ghose12, If the correction is deep enough, yes it might. But then again, new highs! :)
darkandblue
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@Sebastian.seliga.7, there will be new highs but the correction will be deeper than you project i think cause you (3) might be 5 in fact aa you have pointed.if so then we might be looking at an ABC correction
sebastian.seliga.7
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@retiringsoon1, Yes, indeed. I pointed out only one of many corrective patterns possible. It can be a triangle, ABC, WXY, whatever you want basically. :)
Amikoin
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Thanks for your insight ! on shorther timeframe I could seem a rising wedge forming but only time will tell :) Could you please enlighten me on the indicator below your chart that looks like an spiked MACD :^p