A formed, and broke to the upside. It has reached it's target at the .618 - black dashed line.
The red dashed line which is the first mark
50 could cross over EMA200 reconfirming .
is high, but not extreme. Could climb more, but would end up extreme at this rate by the time it reaches the red dashed target if the long option was to be.
1 - Short. (lilac line) Will retrace to the .75 from the ATH around the 9500 mark. Should bounce back off creating one massive which should propel up to the 17,400 target - Green dashed line.
2 - Long (Aqua line). Progress up to the red dashed target, with a probable bounce down. How far this bounces will depend on the support zones. Could possilby be shorted from the red dash by whales wanting it to at $6000, and increase profit again, or stop short on the .75 creating a higher low, then upward again.
This is not trading advice, purely for educational purposes.
Still a little early for the main dip if you go on the 60 day cycles. Will either bounce back after the 23rd, form a H&S ready for them to collect on the long positions in March. Or they might just push it down to shake out loose hands so they can pick up more cheap coin before the bull run.