$BTC still in ABC correction
Atualizado
As long as BTC doesnt break up through the blue trendline, I'm awaiting further downside towards the blue box to complete the ABC correction.
Right now in a pennant and could break any moment, or do one more leg up.
The flat pattern which I showed this morning on Twitter is also still a bit in play but normally the spike down invalidates this pattern. But all other movements fit in a flat pattern. In that case we already made last leg up and as this flat is Trend Continuation Pattern, it should go down.
Fundamentally: more and more rumours about bad news from China....
Be cautious, check your alts and dont become a badholder if this plays out.
Right now in a pennant and could break any moment, or do one more leg up.
The flat pattern which I showed this morning on Twitter is also still a bit in play but normally the spike down invalidates this pattern. But all other movements fit in a flat pattern. In that case we already made last leg up and as this flat is Trend Continuation Pattern, it should go down.
Fundamentally: more and more rumours about bad news from China....
Be cautious, check your alts and dont become a badholder if this plays out.
Nota
We may get some correction here, before final push to complete the ABC correctionNota
We saw the break out and made a bullflag. Projection some fibo extensions, which I always use for target determination, I've come to the following possible path for a last push into the blue box around 3500
Nota
Target reached, I'm expecting a bounce in this areaNota
Forgot to post the chart
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