It looks like we are about to bounce off the major resistance shown at the top of wave 3. Support at about 9000 matches with 0.618 retracement of the wave 3 impulse with a final impulse going to the highlighted area.
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My only ocncern with this is it leaves waves 1 and 3 of the higher wave form at roughly equal lengths
I think this is a huge bull trap, no reason for the price to shoot up this much except for people FOMO. I say give it until this weekend and we will dip hard and continue back on the downtrend.
virtualmonkey
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@tothemoonXRP, BIg concern that we are in overall wave B of the original correction and that we may retest the lows seen a week or so ago
Phattyoshis
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@tothemoonXRP, This is just the beginning of the MACRO B wave....we will see 15k BTC by the spring, but the climb will be slow and choppy, as it is a corrective MACRO wave still. However, the C down will follow completing the Bear market by the end of October.