While everyone is looking to the downside (including me with a target of 5800 USD based on classical CT
) the price action is just about to terminate a perfect abc
flat according to EW-rules. Internal fib price relations are quite nice, and also the corrective move in its whole is 62% of the preceding wave (1? -that would be perfect). RSI
Since the preceding bullish
wave since 3147 USD implied a truncated 5, the ongoing correction of this whole wave to its wave 4' region of the minor wave 3 is appropriate according to EW rules.
Target would be 9550, a nice bear trap. So the best thing to do might be to hodl.