BTCUSDT | Wave Analysis Correction ABC Wave 2/B
A possible leading diagonal wave 1 or A completed with 5-3-5 pattern in July.
Wave 1 extension the longest with 5 wave pattern - wave 1.3 extended, RSI bearish divergence signal between wave 1.3 - 1.5.
Wave 2 retraced 61.8% of wave 1 ABC pattern.
Wave 3 extended 127.2% of wave 1 - wave 3.1 the longest and 3.5 the shortest wave.
Wave 4 - a falling triangle pattern retraced 50% of wave 3 exactly.
Wave 5 - RSI bearish divergence confirmation, with the length of 61.8% of wave 1.
Now wave 2 / B pattern ABC correction, possible a bull flag pattern.
Wave A retraced 38.2% of wave 1, wave B currently rebounded testing the upper part of the uptrend channel at 30K price and dynamic resistance at wma200w
A bearish momentum could continue into the bullish flag pattern targeting the Wave C at 61.8% of Wave 1/A around 21K+/- price.
Wave 1 extension the longest with 5 wave pattern - wave 1.3 extended, RSI bearish divergence signal between wave 1.3 - 1.5.
Wave 2 retraced 61.8% of wave 1 ABC pattern.
Wave 3 extended 127.2% of wave 1 - wave 3.1 the longest and 3.5 the shortest wave.
Wave 4 - a falling triangle pattern retraced 50% of wave 3 exactly.
Wave 5 - RSI bearish divergence confirmation, with the length of 61.8% of wave 1.
Now wave 2 / B pattern ABC correction, possible a bull flag pattern.
Wave A retraced 38.2% of wave 1, wave B currently rebounded testing the upper part of the uptrend channel at 30K price and dynamic resistance at wma200w
A bearish momentum could continue into the bullish flag pattern targeting the Wave C at 61.8% of Wave 1/A around 21K+/- price.