We are looking at BTC and we see some interesting levels. The most important thing is that you always look for minimum target, if goes higher even better.. As we know we are in 5th wave, so we have to be very careful arround those levels. Minimum first potential target we see at 161,8% Fibo. extension of wave 4 and 6200 psychological level, so this is important level for Bitcoin's first minimum top! As you see on the chart, we have also very important channel resistance, which has not broken yet! There's also some interesting psychological levels in a lower degree, so we expect that Bitcoin will hit 6000 for 3rd wave of 5th and then some bigger correction in wave (IV) with support arround 5500 and previous wave IV and then one more final push into 5th of 5th to 6200! Keep in mind that this is minimum projection, so if we see any stronger rally to the upside above those levels then we will start tracking an extended 5th wave!
Have a nice weekend!
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BitCoin have just hit 6000! More upside after pullback? Be aware that we are in 5th wave, so upside can be limited!!
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Bitcoin just bounced from 6200, as we projected as our first potential top of 5th wave at 161,8% extension of wave 4! We can also clearly see five waves up in fifth wave, so I would not be surprised if we see some bigger decline here. I'm of course out of longs. There's one more thing some ALTS/BTC looking also for bottoms! We see 5100 level and 38,2% as a strong support! If it breaks lower, then we could face collapse.
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Bitcoin hit new highs and we still see a room for higher levels arround 6400-6600, but be careful arround those levels, as you know it's 5th wave and drop can be followed at anytime!
Thanks for that, is there any rule that would invalidate the possibility that we are in a 5 wave move from July lows? Which would make the correction of Septembre a deep wave IV.