Bitcoin #BTCUSD - in correction now, rally ahead anyway!
Hello guys!
This is my latest update on BTCUSD.
The first five waves up are now completed and the market has entered a corrective cycle in wave 2/a. It is hard to tell now whether the wave 2 has been completed now, but so far the move down is very shallow. My guess is the wave 2 will deteriorate towards the level of $7,500 before the uptrend will resume.
The target for wave 3/c is seen at the level of $9,222.
This is my latest update on BTCUSD.
The first five waves up are now completed and the market has entered a corrective cycle in wave 2/a. It is hard to tell now whether the wave 2 has been completed now, but so far the move down is very shallow. My guess is the wave 2 will deteriorate towards the level of $7,500 before the uptrend will resume.
The target for wave 3/c is seen at the level of $9,222.
Comment:
This is developing by the book: one more small sub-wave to the downside needed.
