A small retrace for btc
In my previous post I described how bitcoin is bearish under the 200 MA, though this doesn't mean that there aren't any opportunities anymore.
Now we can see that the btc correction from its current top has made 5 waves down, meaning we could except a 3 wave move up.
For me the bigger picture is bearisch, but the support area for this trade is close.
If we break the green support zone and the (purple) current trend, it's likely we will form a lower low.
For this trade the targets are around 7.3 and 7.6, only in case that we break the previous top and the ma 200, a bigger bullish movement could be possible.
Now we can see that the btc correction from its current top has made 5 waves down, meaning we could except a 3 wave move up.
For me the bigger picture is bearisch, but the support area for this trade is close.
If we break the green support zone and the (purple) current trend, it's likely we will form a lower low.
For this trade the targets are around 7.3 and 7.6, only in case that we break the previous top and the ma 200, a bigger bullish movement could be possible.
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