BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
After completing 12345 impulse move Bitcoin showing that it is currently in final corrective phase C of ABC.
When bitcoin broke the rising channel it was the 1st sign that possibly the entire move up is 3 waves. after completing wave B of ABC, now it has broken 2nd support level marked on chart, this confirms that the entire rise was wave B, and currently we are in wave C of ABC, The parallel channel around the entire structure gives us the downside level of 30800 for wave C to complete.


Overall wave structure could be like this

macd in weekly

macd in daily

rsi in daily

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My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
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