Possible Wave 4 correction done, Wave 5 now for BTC
The target zone all depends on what BTC decides to do here, we can still correct lower to the 19.95k range, but means that the bounce will be higher.
Wave 5 would be the 1.618 retrace of wave 4 which bring us to around 21.65k which imo there is a lot of liquidity to be tested there.
RSI on the 1hr also is at lows, once it bounces and breaks the resistance trend line, expect moves higher.
Wave 5 would be the 1.618 retrace of wave 4 which bring us to around 21.65k which imo there is a lot of liquidity to be tested there.
RSI on the 1hr also is at lows, once it bounces and breaks the resistance trend line, expect moves higher.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.