Reasons why BTC might see a correction

25 de jul. de 2018

Nice run on BTC, but every impulse wave comes with a correction. At least at this level. Reasons are:

• A correct formation of an Elliot Wave (but not the strongest signal)
  
• This run is now trying to fight the 62% fibbo from the previous big run. These lines clearly determined the support & resistance during this run.
  
• RSI on the daily is overbought
  

I don't expect a huge correction, but it makes more sense than another push without a fight.

Let me know what you think and give a LIKE if you agree!

25 de jul. de 2018

Nota

And there it is. Keep an eye on the daily. But for now 7850 is in sight.

27 de jul. de 2018

Nota

I closed my short at 7850 with great profits. Started up a new leverage challenge. Follow me to be updated