? Bitcoin Bearish ABC after Completing Bullish Wave 1 ?
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Dear Traders,
Bitcoin has completed a strong bullish move up, which is probably a wave 1. Now the crypto pair is building a bearish ABC correction pattern within a wave 2 and price is expected to continue higher as soon as wave 2 is completed. The invalidation level of such this wave 1-2 pattern is the previous bottom at around $5800.
Ethereum is showing a similar bearish corrective wave 2 pattern after strong bullish price action. Ripple remains the weakest crypto of the three and needs to break above 1.20 before a bullish trend could emerge.
Gold is moving sideways after price completed a potential double or triple top. A larger bearish correction back to $1125 seems probable but a bullish breakout could take price back up to $1700.
Check out the video for the full analysis and trade plans on 8-14 March 2018:
- Technical analysis
- Review of patterns, trends, key S&R levels
- Explanation of potentrial trade ideas both up and down
- Beginner friendly, explaining concepts in more detail
See the video below for all of the details
Good trading,
Chris Svorcik
Elite CurrenSea
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