Hello, Skyrexians!
Yesterday we pointed out that 0.5 Fibonacci has been reached at 80k and this dump will not continue. Today we have a great bounce above $85 and the great chart to be sure that our previous scenario is right.
Let’s take a look at the daily time frame. As usual we have the 5 Elliott wave cycle which has been started at $49k and finished at 110k. Then the current correction has been started. Yesterday this ABC zigzag has reached the 0.5 Fibonacci retracement and bounced back. The great thing is the green dot on the Bullish/Bearish Reversal Bar Indicator [Skyrexio] inside the target zone. This gives us 90% probability that price has found the bottom and ready for the next huge wave to the upside.
Best regards,
Skyrexio Team
