BTC (Bitcoin) / USD - 16 May 2018 - decide to FAIL, another ABC correction in progress

Yesterday I gave you two major assumptions. One of them was fulfilled as expected. Bitcoin decide to FAIL and now another ABC correction is in progress.

Read more here: BTC (Bitcoin) / USD - 15 May 2018 - reached my targets exactly, what next ...

A leg of current correction look completed. I count 5 waves down where the 5th wave end exactly at 2.618 Fibo extension. Another small drop can be expected reaching 8000K before starting of the reactionary B wave. This drop will create a bullish divergence in the 1h RSI witch will automatically trigger a lot of buy orders.

The target for B wave is between 0.382 and 0.5 Fibo retracement where the resistance of the 3th and 4th wave is.

My Buy zone 1 since 09 May still stay as a very good buy point and very possible end of the C leg.

Read more here: BTC (Bitcoin) / USD - 09 May 2018 - correction in progress

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Legal Disclaimer: This blog post and the materials in it are for informational purposes only. I'm not an financial advisor. This is only my opinion. It is not advice or recommendation to buy or sell according to provided information about the price movements and I am not liable for any pecuniary damages!