Bitcoin retraced below the 0.786 Fibo level making WXY correction in big internal retracement. BTC need to break out the downtrend line (pink line) to confirm the beginning of the uptrend. I expect small retracement from here befor the second attempt. Watch out for bull traps! The break out need to be done with a lot of volume and need to hold above the downtrend line to succeed. RSI already making a bearish divergence on 1 hour timeframe.
If my count is correct we are in the ABC correction of the first wave.It's look like we have flat correction with extended B and if hypothetically C make double bottom at the A level.
We need more data for a proper count and an uptrend confirmation!
If the support zone do not hold then we may see lower lows!
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Bitcoin: 3DQkWWrtD7nL1nHLKzQXQt2s13bAkDeasz
Ethereum: 0x893dbBE19b7F3622227aAd21f2c84Fb8806EE091
Litecoin: MAa339STqrC6MBqniqKXiWPPhH1AonSYWk
Legal Disclaimer: This blog post and the materials in it are for informational purposes only. I'm not an financial advisor. This is only my opinion. It is not advice or recommendation to buy or sell according to provided information about the price movements and I am not liable for any pecuniary damages!
