Bitcoin : Little Correction Coming
Dear TWA followers,
With some bearish corrections in the middle Bitcoin has shown a massive rally from its double bottom. At this point the bulls might still have a space to push up some more levels even though it seems we must see a correction in short period since wave 5 is almost done seeing it from a technical perspective. The RSI is overbought. Strong resistance is found around 9800 and 10500.
From this point we might see a three corrective wave and we might be going first to the 23.6% fib ret. level at 8640.3 USD and if bears continue manipulating to the 38.2% fib ret. level at 8217.0 USD. Good luck on your trading.
With some bearish corrections in the middle Bitcoin has shown a massive rally from its double bottom. At this point the bulls might still have a space to push up some more levels even though it seems we must see a correction in short period since wave 5 is almost done seeing it from a technical perspective. The RSI is overbought. Strong resistance is found around 9800 and 10500.
From this point we might see a three corrective wave and we might be going first to the 23.6% fib ret. level at 8640.3 USD and if bears continue manipulating to the 38.2% fib ret. level at 8217.0 USD. Good luck on your trading.
Penafian
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