Hello, Skyrexians!
Last 2 months BTC s struggling to continue growing and as we can see most of traders now are sure that bear market has been started already, but this time can be really different and this rally can lasts much longer than usual.
On the weekly time frame we can see that Fractal Trend Detector [Skyrexio] shows the strong bullish phase. Price was not able even to break the green support zone on the indicator. We suppose that the wave from $15k to $73 was just the wave 1 inside global wave 3. After that price retraced almost to 0.5 Fibonacci level and now this is wave 3 in global wave 3. This wave has a target zone between 140k and 200k. Currently price is finishing subwave 2 in wave 3. It looks like a flat correction. So, the target is not so deep, at 0.38 Fibonacci at 86k. From there we expect the huge rally inside the most impulsive wave C.
Best regards,
Skyrexio Team
