I called out this ABC correction over on July 19. So far it is playing out quiet nicely. 
BTC is now targeting a new Low in most key indicators.
Bitcoin is currently sitting below the 50EMA and headed to touch 100 EMA. If it doesn't hold, we are going to retest 200EMA at $7.5K
Daily chart!
T1: $9.06K Retest & continuation down.
T2: $8.4K 38% FIB retracement - End of C wave correction. If it doesn't Hold we are going to T3 & consequently T4 before we see a reversal.
T3: $7.94K - 20% correction from last 4h close under 50 EMA - Likely scenario!
T4: $7.5K 200 EMA - Expect a quick wick up - Bounce! (This is worst case scenario)
BTC is now targeting a new Low in most key indicators. Bitcoin is currently sitting below the 50EMA and headed to touch 100 EMA. If it doesn't hold, we are going to retest 200EMA at $7.5K
Daily chart!
T1: $9.06K Retest & continuation down.
T2: $8.4K 38% FIB retracement - End of C wave correction. If it doesn't Hold we are going to T3 & consequently T4 before we see a reversal.
T3: $7.94K - 20% correction from last 4h close under 50 EMA - Likely scenario!
T4: $7.5K 200 EMA - Expect a quick wick up - Bounce! (This is worst case scenario)
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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.