BTC FEB 22 2018 4 BEAR Diagonal ???

22 feb 2018

BTC from a bear outlook is an an ABCDE diagonal pattern. IF correct BTC will find some deep new lows. I am not ready to throw in the towel on a continuation of the bullish trend but I must say the MACD and RSI are pointing lower. Why do the MACD and RSI continuing to suggest we go lower today matter to postulate the bear view? Because if we are doing a corrective wave before a return to bull trend and BTC moves very much lower from here it is going to invalidate Fibonacci counts for a minor wave 4 or a wave 5 correction. Keeping a stop tight and waiting to see at this point is the best option if long and if a bear probably you are feeling pretty convinced. Lets see what today brings there is lots of room below to short this if the bears are correct.