Be aware: 2nd intense downmove may be about to start!
In case 1st move down was an A, B nicely retraced to 61.8% and probably already ended.
Minimum condition for 2nd move down (wave C) is C = 0.618 x A.
This means next target is at least about 1st downmoves low (0.618xA) and may even extent to 1xA, 1.236xA or even 1.618xA!
Minimum condition for 2nd move down (wave C) is C = 0.618 x A.
This means next target is at least about 1st downmoves low (0.618xA) and may even extent to 1xA, 1.236xA or even 1.618xA!
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Possible C wave in BTC/USD reached 1.236 Retracement of previous A wave and bounced with high volume. Patterns since are not clear enough to me, to be sure, this was the low. Reaching 1.618 @ about 4xxx is still possible, in case BTC/USD trades below 6000.
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Correction: 1.628 @ about 2500!
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Addes some lines. Right now BTC/USD is at a crucial level!
