BTC EW ABC CORRECTION
EW completed wave 5 at 7800 USD, higher than expected. Now here is the predicted ABC correction. First support is at MA50 at price ~5400 USD, next at MA100 at 4900 USD level. Buy order can be set at around 5000 USD but price can go as low as 4400 support. Observe the RSI action. Bofore the next move up it will probably go in the oversold area (red arrow) like at previous corrections.
But this analisys is valid if BTC finds support at ~5400 USD. If it goes below this level in the A wave to around 4900 USD, than we can have a bigger correction in C wave to as low as 3000 USD! Observe and be careful whenthe bull trap happens.
GL
But this analisys is valid if BTC finds support at ~5400 USD. If it goes below this level in the A wave to around 4900 USD, than we can have a bigger correction in C wave to as low as 3000 USD! Observe and be careful whenthe bull trap happens.
GL
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