Let's see the bigger picture of BTC/USD
Bitcoin is still trading on range.
Short term range. Still above wave 1 of prior bull price structure. Underlaying sentiment is still bullish.
Short term bull trend has been broken. Will it be a fake breakout before the real move? Will the bear trend extend?
Fibonacci Ratios applied to Bitcoin BTC/USD
Bitcoin is still trading on range. The bottom of bear channel and the 61.8% retracement are very close so could be a likely key level to expect.
Full size charts: Open in new tab window
Ok, so I just got the Fibonacci ratio. It is the percent of retracement off the peak. You're going to train me well one day:)
I expect Btc to go up this Monday as usual on every Monday after going down on Fridays thru weekends.
That's called a market anomaly typed as Calendar anomaly. Most of good fridays end up with a bad monday (weekend effect) and bad fridays tend to offer a good monday.
So BTC has no now invalidated the bull count from April. Do you see this as still a larger wave 2 correction after wave 1 starting at the 2018 low, or do you think we are heading to a new 2018 low?
check out today's update. Count still valid yet other count has been presented as well
5.878K - 4.300 area.
Could happen yet would be really scary. Hope that does not happen.
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