Among all the mixed signals and epic battle between the bears and the bulls, it looks like BTC is on its way towards a correction wave finally (or is it). The price is within my highlighted 'High volatility area' (orange box) so expect a very volatile price movement within this area. I got lucky and saw an opportunity to open a small position selling right as it was about to break down and am now able to now comfortably put a stop loss above the volatility zone.
Based on the recent BTC trends trying to claw back at a bull market, I expect this to be a much longer correction wave from here on out than most would anticipate.
Expecting final correction target ~8200 but if the price is able to stay above the upper volatility zone (~9100) this target will have to be revisited and completely reanalyzed.
If you do open any positions here, prepare to get flushed out from the volatility.
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Beginning to look a lot more like this pattern. [img][/img]
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