BITCOIN: still one more move upwards before going lower…

BITCOIN: still one more move upwards before going lower…
January 03 22:17 2019

Why? well, basically because I think we are really attending a long 5-3-5 correction, on which the first 5 waves have been identified (Left blue ellipse) and the 3 middle waves are almost completed (Middle Green Ellipse).

To view it clearer we can have a look at the hourly chart:

Still one last sub-wave upwards is missing in order to complete the final “B” leg of the 5-3-5 (A-B-C) correction.

My expectations is that “B” will reach a slightly higher value than the level of the “A” magenta wave, so around 4000 USD… and still can happen because RSI indicator shows that BITCOIN is almost reaching the “oversold” condition now, at the hourly chart.

Stay attentive because as soon as BTC reaches that level, a 5-3-5 correction obliges on the execution of a last and relatively long 5-wave down movement on which, very likely, BTC will test again the previous low (61.8% FIBO) of the correction and reach even a lower level corresponding to the 78.6% FIBO or 3370 USD.

Take care.

@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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About Article Author

toofasteddie
toofasteddie

Superconducting Engineer working for the development of the Fusion Energy, Dad, Crypto-Enthusiast and Runner addicted. I am in a "Continuous Learning Mode" as well I am always willing to share my knowledge about the fields and topics related with trading, Cryptocurrencies, Blockchain technologies and Sports, in particular Running and Athletics.

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