Cryptocurrencies Strategy Trends

BITCOIN: Trip to 6200 USD, 5-3-5 Correction

Elliot Waves count still valid and progressing towards the 6200 USD target.

Currently building what seems to be a 5-3-5 Zig-Zag correction in order to complete wave 4 as shown at the 4h Chart:

Red a-b-c correcting waves can be identified as 5-3-5 Zig Zag type using the 1Hour chart:

If this assumption is correct, we should see a drop towards the range of prices ranging between 4800 and 4600 USD on which I am laddering some buying orders.

That level of price would mean the completion of the 4th wave and the start of the upwards 5th towards the major resistance:

Below 4600 USD the only support available in order to hold BITCOIN avoiding a year lower low is placed at 4150 USD. Hopefully we will not see that level to be tested again.

Enjoy!

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.


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