This is what I'm watching. Possible swing up to 4k again, but if we don't break the resistance there, I feel we will see a final correction to E (24-2500). Daily stoch still looks like it's growing, so that's bullish - but most other stoch indicators are falling or about to fall.
The question is quite simple - Is this a correction of a grand Wave 3 or Wave 5?
If this is correcting Wave 3 we will see higher highs - perhaps to 7000+.
If we are correcting Wave 5, we will most likely bleed down to the 24-2500 zone.
I feel that we are correcting Wave 5, but I'm open to the possibility that this is incorrect. Wave 3 and Wave 5 are a little too close in length for them to be Wave 1 and 3 in my opinion. Wave 3 is generally considered to be an "expansive" wave while Wave 5 should have a nice "top". I see both on this chart.
I'm out of the market till it makes a decision either way.
I wish everyone much luck and fortune! Either way, exciting times as always with BTC.
The question is quite simple - Is this a correction of a grand Wave 3 or Wave 5?
If this is correcting Wave 3 we will see higher highs - perhaps to 7000+.
If we are correcting Wave 5, we will most likely bleed down to the 24-2500 zone.
I feel that we are correcting Wave 5, but I'm open to the possibility that this is incorrect. Wave 3 and Wave 5 are a little too close in length for them to be Wave 1 and 3 in my opinion. Wave 3 is generally considered to be an "expansive" wave while Wave 5 should have a nice "top". I see both on this chart.
I'm out of the market till it makes a decision either way.
I wish everyone much luck and fortune! Either way, exciting times as always with BTC.
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Possible pull back here - 1 hr stoch turning down and we're right on the resistance line. Be Careful
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Updated Chart
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Keep an eye on news from China before considering any entry.
www.trustnodes.com/2...ners-preparing-worst
www.trustnodes.com/2...ners-preparing-worst
