Bitcoin closer look at current wave structure

28 Apr 2018

In a daily chart, bitcoin is being resisted by 100 EMA and thus if the candle closes above 100 EMA, we could expect some bull run until it reaches 200 EMA.
The above chart is my bullish wave counts and as long as it doesn't break $8,900, we are done with the correction.
If it does break the trendline and $8,900, that it would mean that we are on wave C going down. Using the fib extension, my short-term 1st target stands at $9,600~$9,750, 2nd target at $10,000~$10,200 and 3rd target around $10,450.

28 Apr 2018

Catatan

I am not sure how to interpret that candle that has very long wig both up and down...

29 Apr 2018

Catatan