BTC; bull flag, but nearing end of first EW cycle
BTC is currently drawing in a bull flag after an impulse leg up. If we break the bull flag to the upside targets beyond 10k$ are within reach.
However we are also nearing the end of a full EW cycle which demands a retracement cycle to follow.
I'm currently looking to long a breakout of the bull flag to see an extended 5th wave If we however break down I'll be looking to long the golden pocket zones on different timeframes (mainly the 15m, 1h and 4h)
Expecting at least a bounce from these zones.
maximum downside risk for the entire corrective wave structure falls on the golden pocket zone of the 1d at $5685
watching the break of the flag pattern, trend is your friend so our bias remains bullish and a break towards the upside.
However we are also nearing the end of a full EW cycle which demands a retracement cycle to follow.
I'm currently looking to long a breakout of the bull flag to see an extended 5th wave If we however break down I'll be looking to long the golden pocket zones on different timeframes (mainly the 15m, 1h and 4h)
Expecting at least a bounce from these zones.
maximum downside risk for the entire corrective wave structure falls on the golden pocket zone of the 1d at $5685
watching the break of the flag pattern, trend is your friend so our bias remains bullish and a break towards the upside.
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visit: cryptomarketclass.com
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