A cycle from 9,948.98 has ended at 5,780.00, and from there a new cycle has seen price bouncing in a 3 waves to the upside for now and reached equal leg area at 7,696.88. However, preferred view is that cycle from 5,780.00 low is still in progress and we are now in 5th wave (purple) from current level even though a marginal new low cannot be ruled out.
Failing to take out 7,696.88 in this attempt would result in the cycle from 5,780.00 to be ended and correction underway.
Invalidation level to the upside is 5,780.00
Failing to take out 7,696.88 in this attempt would result in the cycle from 5,780.00 to be ended and correction underway.
Invalidation level to the upside is 5,780.00
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4H ASIA UPDATE - 25/07/2018
Bitcoin has reached indicative equal leg area. As mentioned yesterday, now eyes are on the RSI to see whether the divergence will be erased or not. View is unchanged as long as this divergence is in place and I will be looking to buy lower at green 2.
The other option is that we have not reached purple 3 yet, and purple 3 and 4 on the graph are of a lower degree. The 1h chart would probably give clues to where we are headed.
Bitcoin has reached indicative equal leg area. As mentioned yesterday, now eyes are on the RSI to see whether the divergence will be erased or not. View is unchanged as long as this divergence is in place and I will be looking to buy lower at green 2.
The other option is that we have not reached purple 3 yet, and purple 3 and 4 on the graph are of a lower degree. The 1h chart would probably give clues to where we are headed.
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4H ASIA UPDATE - 26/07/2018
view unchanged
view unchanged
View unchanged