Hello, Skyrexians!
Despite the extreme fear tonight BTC continues going down and finally broke 80k.Investors are panic selling right now and don’t know what to do. But we pointed out earlier that the most impulsive part of bull run ahead and current dump is just the correction.
Let’s take a look at the weekly time frame. Here we can see that the potentially strongest reversal signal has been broken. We are talking about divergence with AO. That is the reason why we marked that waves 1 and 2 like you see on the chart. According to this counting we can see that wave’s 3 targets are at the 140k and 190k. At the same time we wanna tell you that the strong resistance is located at 1 Fibonacci level at 110k and we have seen it already.
Current dump is wave 2 inside wave 3. It has the target between 0.5 and 0.61. The first one has been already reached. We expect reversal from here. Moreover Fractal Trend Detector [Skyrexio] is showing us bull run support with the green zone and now we see its retest.
Best regards,
Skyrexio Team
