Bitcoin: Wave 4 is missing

Hey guys, well this time around to see perfection on BTC analysis will be very hard. Anyway I believe market is well overbought for those using indicators still yet the momentum remain stronger.

I spotted some Bearish reversal agents namely:

Double Top
Rising wedge
Bearish Divergence

With all these three combined I believe if not now the drop is near and this drop will be for the missing wave 4. This will relief the RSI before further leg up.

Yesterday market got my previous BAT formation invalid by breaking above the starting waves but I still have the other view with Bearish Butterfly valid since price still yet to close above the given level on it that is 5500$.

This was the BAT formation spotted earlier

Here I talk about possible dangerous level, which we are in right now.

Note: Follow this advice with proper care. And do not make this as trading decision as price can swing to either of the side. I will choose to go neutral with this analysis.

Thank you.

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We still have the formation intact with double top holding while the falling wedge seems to be hitting part of the top. Looking at the indicator section this well painted with bearish divergence. We should see how this develop in the next few hours.

Thou, the whole market sentiment remain very bullish.

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A quick look on CelrBtc, I made this call earlier today and it really amazed me with over 11% up already.

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BTC trading range is becoming tighten up, we have for now 5078$-5199$ to be our immediate range.

I highlighted some level for us to watch if we break out from this trading range.

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Price still within the top side of the big channel, and if this channel keep holding we should see BTC price drop for at least a re-test on the mid line of the channel.

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Hey guys keep an eyes on this

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We are starting wave 4 and this should be just ABC move. Since we had extensive wave 2

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