BTC Is in super tricky zone, which just bounced off of last year Sep '17 support.
This might be the bottom we are waiting for, unfortunately we do not have confirmation.
If that trend is not broken and retested as support, this last correction wave C can be further extended to July '17 support which will lead us to ~2500 range for
BTCUSD
.
NEVERTHELESS, Its a short term bull without a confirmation. My first target is ~5000.
Reason to move above is Sellers exhausted, Decreased momentum, RSI divergence and recent bounce off of last year's support.
My criteria for a actual bull run would be as follows:
1. Two continuous HL and HH
2. Break of Trendline
3. Retest to bearish trendline and bounce off from there.
PS. I am expecting first a bull trap and then a bear trap before moving up...
WILL UPDATE AS WE GO.
This might be the bottom we are waiting for, unfortunately we do not have confirmation.
If that trend is not broken and retested as support, this last correction wave C can be further extended to July '17 support which will lead us to ~2500 range for
BTCUSD
. NEVERTHELESS, Its a short term bull without a confirmation. My first target is ~5000.
Reason to move above is Sellers exhausted, Decreased momentum, RSI divergence and recent bounce off of last year's support.
My criteria for a actual bull run would be as follows:
1. Two continuous HL and HH
2. Break of Trendline
3. Retest to bearish trendline and bounce off from there.
PS. I am expecting first a bull trap and then a bear trap before moving up...
WILL UPDATE AS WE GO.
@fiatdropout