Reasons why BTC might see a correction

Jul 25, 2018

Nice run on BTC, but every impulse wave comes with a correction. At least at this level. Reasons are:

• A correct formation of an Elliot Wave (but not the strongest signal)
  
• This run is now trying to fight the 62% fibbo from the previous big run. These lines clearly determined the support & resistance during this run.
  
• RSI on the daily is overbought
  

I don't expect a huge correction, but it makes more sense than another push without a fight.

Let me know what you think and give a LIKE if you agree!

Jul 25, 2018

Note

And there it is. Keep an eye on the daily. But for now 7850 is in sight.

Jul 27, 2018

Note

I closed my short at 7850 with great profits. Started up a new leverage challenge. Follow me to be updated