Hey guys,
short update for BTCUSD. It seems to form a nice C-wave in the ABC correction pattern. The 4h candle is looking good, saw a long wick which means strenght. But be patient, we have to wait until the close of that candle in 1 h. After that, the way is free at least to the green marked line, to test the previous high. If we can break this resistance substainable ( daily close above would be disireable), than we will see a move up until the red marked line at aroung 5000 USD. The big inverted SHS formation and the strong EMA support are potentiating my long bias.
short update for BTCUSD. It seems to form a nice C-wave in the ABC correction pattern. The 4h candle is looking good, saw a long wick which means strenght. But be patient, we have to wait until the close of that candle in 1 h. After that, the way is free at least to the green marked line, to test the previous high. If we can break this resistance substainable ( daily close above would be disireable), than we will see a move up until the red marked line at aroung 5000 USD. The big inverted SHS formation and the strong EMA support are potentiating my long bias.