At the moment, the fourth wave correction (4) can develop in two ways. The first one, marked in green, is a correction scheme in the form of the fourth wave triangle, in which C, D and E are still to be found. All these subwaves should end within the area of $ 16,500 - $ 12,750. Breaking any of these levels will invalidate this scenario for a correction. The second scenario, marked in red, is an irregular correction ABC, in which waves A and B seem to be finished, so only the C wave remains to be realized. In this scenario, I assume the level of $ 12,750 is broken, then breaking the level of subwave B to $ 12,000 and level test of $ 11.159 (wave A bottom). This level should not stop bears in this scenario and this level should also be impulsively broken through. In this case, the first target level for the C wave will be the level of $ 9,021.
Main trend: UP
Intermediate trend: UP
Daily trend: UP/ NEUTRAL (continuation of the correction)
Key levels:
- for further increases - the level of $ 16,500 and later $ 17,500
- for continuing correction - the level of $ 12,750 and later $ 14,400
- for the continuation of declines - the level of $ 12,500 and later $ 12,000 and $ 11,159
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交易進行
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Patience. Triangle scenario still in play. Waiting.
but 12.5k is strong support...i dont think 13k can help dropping with this speed...
sebastian.seliga.7
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@ghose12, We will soon find out. :) I prefer a Triangle correction in wave 4 for now as well. This means more horizontal price action and not a sudden drop :)
Zakir-Ahmed
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@Sebastian.seliga.7, sir..the cryptos are not respecting trading rules..i m pissed off...
sebastian.seliga.7
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@ghose12, Rule number one is not to talk about Fight Club. Rule number two is not to talk about Fight Club. Rule number three is to detach yourself emotionally from the market - it does not have any obligation to make sense to you. Good Luck :)