Elliot Count is fitting consistently on BITCOIN chart. Actually my main count is indicating a major correction since seems we are attending the completion of the 5th wave inside a major 1st wave.
Since the 3rd has been long, I am not expecting a huge extension of this last one 5th wave before the correction will appear.
We have a lot of resistance at the range between 9500 and 9800 USD level so I plan for the 5th wave target around.
Also the RSI on the daily is entering in the overbought area, so, yes, IMO we should expect for a correction that would be healthy in the sense that is really natural.
Possible area for the correction to land might be in the range between 8400 and 8200 USD.
Which is your strategy? Are you buying, selling or simply observing?
Enjoy!
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
Btw, this is my third entry on 