Nice run on BTC, but every impulse wave comes with a correction. At least at this level. Reasons are:
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!
- 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!
Note
And there it is. Keep an eye on the daily. But for now 7850 is in sight.Note
I closed my short at 7850 with great profits. Started up a new leverage challenge. Follow me to be updated
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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.