BTC - abc correction approaching

12 באוק׳ 2017

I sense an abc correction approaching as we near the end of wave 5 Elliot, I'm still bullish medium term but 5K is a psychological milestone and traders will take profits after the 5 wave rally and hard fork approaching. I believe price will peak around 4950 and then retract to around 4200 (.38 fibo) for a bounce for 1st wave Elliot, watch fibo levels for entry and shorts. This would also confirm an inverted H&S formation, a bullish pattern, thereafter we could see ATH.