BitcoinLong
BTC
$24,300 was tested which seems kinda shallow compared to the ETH move, That said this structure does sub divide nicely into 5 up and hit all fib extension measurements as far as EW is concerned.
An ABC down would likely retest that triangle breakout. H4 SRSI & RSI show that the bulls can keep this thing going and run up to my original target around
25K B4 starting the ABC correction.
Only time will tell.
If the top is in and we have started pulling back into wave A as my chart shows then the push for wave B will pull the stoch RSI up quickly and make a lower high Vs my W5 top and confirm the analysis.
Conversely breaking above with the RSI moving up slowly will cancel the A wave and mean we likely hit 25K.
An ABC down would likely retest that triangle breakout. H4 SRSI & RSI show that the bulls can keep this thing going and run up to my original target around
25K B4 starting the ABC correction. Only time will tell.
If the top is in and we have started pulling back into wave A as my chart shows then the push for wave B will pull the stoch RSI up quickly and make a lower high Vs my W5 top and confirm the analysis.
Conversely breaking above with the RSI moving up slowly will cancel the A wave and mean we likely hit 25K.
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