BTCUSD In A Minor Correction, 6000 in 24hours?

Bitcoin ha slowed down recently, but only for a three wave set-back, seen as a black wave IV as labeled on our chart. Its a corrective leg that occurs in the middle of a strong trend, so we expect a fifth wave up that can kiss 6000 level in 24hours. On the downside, any new dip may stop at 5200 but it would still be seen as wave IV, just more complex one. A significant trend in change would be only below 4440 as discussed in our past updates and video (link can be found in signature, below this analysis).

Trade well,

Grega

Commentaire:

Bitcoin moves even lower, now eyeing second support at 5200 as highlighted in commentary. its nice Fib. support level for fourth wave there

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there was a nice bounce on BTCUSD from Fib. support... current upward reaction looks interesting..

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here is an update. Also made a new video analysis in which I covered BTCUSD as well. Link can be found below

Commentaire:

Bitcoin hit 6000 as we projected! More upside after pullback?!? Be aware of 5th wave, upside can be limited!

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Commentaire:

Bitcoin just bounced from 6200, as we projected as our first potential top of 5th wave at 161,8% extension of wave 4! We can also clearly see five waves up in fifth wave, so I would not be surprised if we see some bigger decline here. I'm of course out of longs. There's one more thing some ALTS/BTC looking also for bottoms! We see 5100 level and 38,2% as a strong support! If it breaks lower, then we could face collapse.

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Bitcoin hit our projected levels and it seems that deeper prices can now be coming based on recent activity; 5600 can be next level