We are waiting for the end of correction wave 4. This wave, which is a zigzag pattern, may have correction up to 38.2%-50% of wave 3. Wave 5 will rise to the range of 1.3838.
Bitcoin will continue to decline until it reaches the bottom of the downtrend channel and the $ 19,700 target.
We are currently in wave 2 Which can be corrected between 61.8% to 78.6%. Wave 3 targets around $ 50.
Support Trend Line on RSI Wave 3 in the weekly time is not yet complete.
Wave a ended in the 61.8% Fibo. ⠀Wave b is correct Wave a by 50%. Wave c target 1700$
Triangle is corrective pattern • Triangle contains five overlapping waves A-B-C-D-E • When the triangle ends, the main trend resumes • Upper border drops, lower border rises ⠀
Detail on the chart. I see several reasons for GBPUSD: 🔹 Descending channel 🔹 38.2%% Fibo #GBPUSD
I see several reasons for NZDUSD: ⠀ 🔹 Descending channel 🔹 38.2%% Fibo
1-Pullback to the ascending channel. 2-fib 61.8% Retracement.
As you can see price making a rising wedge pattern or ending diagonal depending on your view using chart pattern or elliott wave