Are we going up more?

24 Apr 2018

My second target which was around $9,200~$9,350 has been reached today. We can observe that bitcoin is still well maintaining its diagonal wedge pattern. It is either correction phase or one or few more pumps. I have recently changed my bearish perspective to bullish since most of the correction hasn’t fallen below 0.238~0.382 level and considering this I have also updated my wave counts. If we do get corrected now, my target for long positions remain the same as posted before. If we do get more pumps, which I would consider it as extended wave 5, I would target it around $9,600~$9,700. However, there would be nothing wrong if we experience correction before we reach that target. Be aware that bearish divergence signals started to show on 1hr and 4hr chart and RSI for day chart is getting close to 70. So always be prepared to respond to any circumstances.

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24 Apr 2018

Catatan

Also keep in mind that we will heavily be resisted by the upper trendline of the wedge.

24 Apr 2018

Catatan

short-term target

24 Apr 2018

Catatan

Short-term wave cycle confirmed and possible bullish flagpole pattern

24 Apr 2018

Catatan

Some correction as soon as target reached

24 Apr 2018

Catatan

Possible bounce region

26 Apr 2018

Catatan

Possible wave counts for correction.

26 Apr 2018

Catatan

trying to break the downtrend line