Good evening traders!
As expected BTCUSD fell down into 5th wave of wave (c) a final leg of decline that we have been talking about a lot in our past reports. Wave (c) is a motive wave, so it must be made by five sub-waves before we may even consider that correction is over.
Well, BTCUSD is currently trading near support zone between 6k and 7k levels and as said above it's in a final 5th wave, so we would not be surprised if we get a bounce in coming days. We strongly suggest to be patient and wait for confirmations, because we may see some volatility and spikes, which are very common in trend reversals. That said, only a five wave rally from the lows can confirm a change in trend!
BTCUSD, 4H
Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.
indeed will be a nice reversal, didn't expect wave C move was this fast