BTC - impulsive wave
Likely wave iii is still in progress, lacking the local terminal thrust to the upside before a meaningful correction in the wave (iv).
Trade safe
Trade safe
Nota
Just in case, a huge bearish scenario is still possible. Wave 1 -50%, and we may get an ending diagonal of the same size.. the idea in this post is to complete the local impulse only, in the option with a flat in wave 4
Nota
Some arguments with the use of Bollinger bandsNota
on the chart above please note:- RSI 50 will definitely be a strong support
- Before the reversal (larger frame or a correction of the same degree) - RSI must draw a divergence. It will be done ONLY after the above point (RSI 50)
Nota
Soon will go down in a larger correction, so far the count is ok
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