(View unchanged from last week)
bitcoin ended a cycle from inception at 19,666.00 high and since then has been correcting. Since the first cycle is in a motive 5 waves, I expect another motive 5 waves to the upside once the correction is ended.
Now, since 19,666.00 high, I proposed the end of correction at 5,920.76 low on 06/02/2018 that has been denied on 04/06/2018 with a new low.
As RSI in weekly is not showing any divergence, I conclude that the move from 19,666.00 high is corrective and I propose a triple correction (WXYXZ), last leg being from 11,780.00. This last leg is to be in the form of a corrective structure and I propose a FLAT to 7,325.37 low recovering to 9,948.98 and ending at 5,780.00 where we have enough swings to the downside to have the cycle now very mature.
However, equal leg from 11,780.00 projects 5,494.35-2,741.49 which has not been reached yet. However, a cycle ended in the 4h, and while there is no reason to buy here in daily, I call the end of the correction at 24/06/2018 low.
I have called the low in place at 5,780.00 as the end of 17/12/2017 high cycle.
bitcoin ended a cycle from inception at 19,666.00 high and since then has been correcting. Since the first cycle is in a motive 5 waves, I expect another motive 5 waves to the upside once the correction is ended.
Now, since 19,666.00 high, I proposed the end of correction at 5,920.76 low on 06/02/2018 that has been denied on 04/06/2018 with a new low.
As RSI in weekly is not showing any divergence, I conclude that the move from 19,666.00 high is corrective and I propose a triple correction (WXYXZ), last leg being from 11,780.00. This last leg is to be in the form of a corrective structure and I propose a FLAT to 7,325.37 low recovering to 9,948.98 and ending at 5,780.00 where we have enough swings to the downside to have the cycle now very mature.
However, equal leg from 11,780.00 projects 5,494.35-2,741.49 which has not been reached yet. However, a cycle ended in the 4h, and while there is no reason to buy here in daily, I call the end of the correction at 24/06/2018 low.
I have called the low in place at 5,780.00 as the end of 17/12/2017 high cycle.
