RSI divergence has been coming for a while now. BTC and suitable dropped.
How far will it go?
Either a bounce off the .786 line (11260) or drop to the 0.618 (10839).
I don;t see enough force at the moment to take it down to the 50% (10543) retrace.
Not prepared at this stage to commit to a re-entry position (I've been wrong too many times of late!)
Komen
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Looking very similar to the last retracement. RSI fast approaching some support. However, even if RSI recovers, the BTC price has further movement downward, may even reach the red support. Whilst RSI recovers, I See BTC dropping down to 50% retrace (10514)
Reasonable, can certainly see both those numbers happening
Zaphod_Beeblebrox
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I still believe on 4 hour we're in Elliot wave 3 on a more stretched Fib, we'll hit end of wave 3 at 12800'ish. That was a small retracement on a smaller Fib scale.
reppac
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@Bigfishcjp, I'd love to agree with you, but Elliot Wave needs more data. Predicting Wave 3 I think is premature. Predicting any Wave 5 I can deal with but a 3 ?? Not so sure.