Quick preview of my past TA - Bitcoin Technical Analysis - 05 April 2018
Price is now at $6.58k and bearish wave E is still in-play. Looking at the chart below, the price is currently stalling at 0.382 Fib. ext of Wave BCD. It is possible the wave E (truncated) to be completed at $6.4k zone (long-term support channel) if this support zone failed to be broken.
The current count below is still more likely to happen as it is supported by the 30-min RSI and MACD indicator. In this current count, we are in corrective wave 3 and I expect it to be completed at $6.2-6.3k zone. I am expecting the current count to be completed at $6k resistant; however, it is possible for the price to go lower than $6k zone if wave 3 overextends lower than $6.2k zone.
Short-term prediction: Bearish
Mid-term prediction: Bullish
Disclaimer
This is my personal view and I don't claim it to be a professional financial guide. Your decisions are controlled by you and only you. Listen to what others say, but don’t believe everything that you hear. Research, analyze, and think. In the end, you can only thank yourself for believing in something that is true. Likewise, you can only blame yourself for believing in something that is false.
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