2018.05.11 BTC Technical Bounce at Lower Bound of Channel
The correction that we are due is well underway. We are seeing a technical bounce at the lower bounds of the parallel channel here at 8.6k.
Are we done correcting? It may be possible, here at the 38.2% correction range, which the algorithms are clearly picking up on, but this would be a very bullish case.
8.2k target and $7.7 to 7.8k targets are not off the table yet (notice the confluence here of the extension of the A-B-C correction with the golden retrace zone)
If we do indeed go lower, it could turn soon, or generate a fake rally first before heading down. Have to wait and see.
Are we done correcting? It may be possible, here at the 38.2% correction range, which the algorithms are clearly picking up on, but this would be a very bullish case.
8.2k target and $7.7 to 7.8k targets are not off the table yet (notice the confluence here of the extension of the A-B-C correction with the golden retrace zone)
If we do indeed go lower, it could turn soon, or generate a fake rally first before heading down. Have to wait and see.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.