The price of BTCUSD has hit the projected target zone and now the scenario is really simple: either we will impulsively rally towards the new highs or we are going down to $5,920.
Komen
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There is one small wave to the downside missing to complete the five wave sequence in wave 5. If this is done, then the ABC Irregular Flat correction will be completed and an upward rally will still be possible. Otherwise, if the drop extended well below $7,700, then the price will likely visit the level of $5,920
@Sebastian.seliga.7 First, thank you for this analysis. I watched your last video and I found it very informative. What price does btc has to surpass when you conclude that a possible uptrend is likely in progress?
@Sebastian.seliga.7, just to be sure. You mean 7700 and not +/- 7200 (as a lot of traders mention). I ask this because you mention 7700, but the C and 5 are in the 7200 area..
BobSiemonsma
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Sorry, i think I have misread/misunderstood...
hiddenpablo
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Looks like Morning Star on 4h candles ends the correction.
manvcoa
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So sorry but how to understand your ideas? "Up or down" - ohh, really thanks, cap!
Nothing personal +_+.
sebastian.seliga.7
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@manvcoa, Read more about Elliott Wace Principle before trolling, please. You are wasting your time and energy instead of doing something useful.
Looking at the price action at the $8300 level in the second hour now though, it looks like the market is not done yet with the correction. Would not mind buying back lower anyway. Thanks a lot Sebastian for your analysis.