In the short term, the Luna top is in. If this is an impulsive wave it will probably go to at least the .786 (probably lower). Corrective waves can also be 5 waves which means it could make a lower low if btc goes down.
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Extended 5th. Can now count 5 waves in the 5th AND the 5 in the final top. Rising wedge at the top. Bearish Volume divergence from the wave 1 and RSI triple top. Exact top? Maybe not. Top area. Likely!
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Zooming in to the top (5 of 5).
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Cloning the height of the short term wedge. Either the wave 5 top could be above (if it breaks up) or if the wedge breaks down then the move looks like it could be over.
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Wedge has spilled down.
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For it to remain bullish it must now reclaim this area (red line) as support.
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Above the green and it may continue. Below the red and we're probably down and out for some time.
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*PROVIDING THIS WAS THE TOP* ^^^^^^^^^^^^^^^^^^^^^^^^^^
I would expect re-accumulation to take place down in the box.
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Cloning the height of the triangle gives the height of the breakout target in either direction. If it goes down I have laid out the targets. If it breaks out with volume then it would be time to look at upside targets. Still bearish bias.
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short term bearish div approaching this triangle top. Also would like to see 90+ RSI for a confirmed break out. RSI a little too low for bulls IMO.
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2 rough wave counts. Pick your poison. Place your bets.
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Pretty low targets if this bearish set-up fulfills itself.
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