Bitcoin did finish the blue ABC correction as labeled in Bitcoin update 26.Mar, and it is looking very bullish short term. The C wave is now fully populated with a red ABCDE subwave down.
Here is the 30 minute chart for the EW details.
Using fibonacci I have labeled up green target zones for the 1. and 3. wave up, and the green and red Risk/Reward box show a ratio at 2.5 reward, ~8% down and 20% up.
MACD at -35 have turned up, volume is still flat.
The daily chart is still bearish, here shown log scale. The lower support line is shadow ends 9.15 and 6.2.
The Superguppy widening with the traders below investors group. The red sell Swing Arrow Alert 4 days ago may still be valid. TD Sequential at 5 may turn bullish if closing up today.
These are just my thoughts, not a trading advice.
If you have another view on this post your welcome to discuss and post your charts in the comments.
If you'd like my technical analysis on another coin, please ask in the comments.
Comments are highly appreciated, and please
upvote, resteem and follow me if you profit or otherwise enjoy my posts !
Support me using these services
- Get Basic Income
- Investfeed
- Binance Exchange
- HitBTC exchange
- BTC forex stock exchange
- Tradingview
- Steeming from Busy.org
- Steem Rat Upvote&Resteem BOT
Also check out these other posts: - the Dolphin Contests
- Daily "Weekly price contest" for Top 7 Marketcap cryptos
- the Bitcoin Weekly Contest @thedolphin
- Giveaway to my beloved followers
- How to get full curation rewards