Correction done, in progress or not finished at all ?

We had quite good bounce from 8250 and I think, we can assume, that "ABC" correction is done.
However buying volume isn´t that good and there are still too many people longing - so I think the most probable scenarios is, that correction isn´t finished yet and I think we will see forming WXY correction.
But still, this ABC correction could easily be last big retracement and now we can go straight up towards 11 000.

評論:

Short term view - if triangle will be valid, than we will see probably one last push upside, before some bigger downside move.

評論:

Things are looking more bearish than they actually are, in my opinion.
Amount of longs on bitmex is low and I think, we should go up to 8550, to at least finish ABC correction.

評論:

LTC/USDT has very often better structure than bitcoin, however both pairs are highly correlated. So if LTC/USDT is forming nice triangle and it will broke down, than BTC/USD will have final move to the downside and after that we will see bigger upside move, at least ABC correction.

評論:

Still waiting for that final touch and finishing triangle - after we got this touch on LTC/USDT, triangle should be valid and I am gonna close my long position on BTC and I will go SHORT. Targets on btc should be about 8050 (bitmex price) and from 8050 I will go long.

評論:

So now, we got this final 5th touch - but there is always also bullish version of triangle - now we should go down, to break/test this lower trendline of triangle - if nothing happens and we go slowly up or down, than triangle is invalidaded.

評論:

Big volatile move around the corner ? I bet that dirrection will be DOWN !

評論:

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