Short osculating correction down to $6560 before resumption of bull run to next all time high around $8000 where it again touches the top of the 2017 bullish channel (shown in blue here).
So:
LONG immediate term (trading bearish channel swings) SHORT short term down to $6560. LONG medium term up to $8000.
评论
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Current bearish correction channel proving much steeper. May even make it all the way down to $5460 with the current impulse wave.
@nunojusto, Thanks - do hope so cause I'm trading it....
mozartc
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I agree with this value, let's value this 5460.
mytorc
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@mozartc, Thanks for your comment - agree a larger correction is due in the region of $5460 and equating to a 0.5 - 0.618 fib retracement down to the bottom of the 2017 or 2017 H2 bullish channels. My guess is this retracement will be part of that, though we should not be surprised by a new ATH meanwhile in the run up to Nov 16th.