As I wrote yesterday, after a 5th wave comes always a correction, this was the chart:
So, seems BITCOIN completed the 5th wave of the green cycle, now is time for the correction which, usually, takes an A-B-C shape:
Normally, the end of the correction used to reach the level of the previous 4rth wave but here I am confident that the now "old" Mid-Trend resistance would hold the fall. I really think that a good point for rebounding would be close to the 7700 USD.
Well, something really interesting thought... STEEM is growing while BITCOIN is correcting which means that some of those BTC are being traded for STEEM and other altcoins. Seems to me that this behaviour is more "natural" and less manipulated if we compare it so with what was happening till now, altcoins were sold and transformed in BITCOIN mainly.
The BTC dominance is falling a little but the total Market Cap is constant, so no FIAT is exiting from the market, we are dancing between 295 and 300b USD which is a good new IHMO.
The near future looks promising but still we have to be cautious.
Enjoy Cryptoland!!!
*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.
Posted at TIMM
@toofasteddie