Finally on our C wave now. This is getting very exciting.
We have already reached our first target of $8826 which is the extension 1.618 FIB of the first wave down from B.
The second target will be around 2.618 FIB region which will be $8440. I hope that we get there and don't fall any further.
though falling lower is possible but, any candle closing below $8458 will mean 3rd wave failure. Only wicking below $8458 is acceptable on higher time scale.
If we happen to fall lower be ready for a sell off and possibly seeing lower prices in the coming days.
This what I think of MACD on bitcoin daily chart
We are seeing the histogram coiling in little by little everytime.
This normally means that after coming to the apex it'll decide to go in one direction very hard and I think It can only go up.
The possibility of it going up is more than it actually going down but for that we'll have to see how the next few waves form on the higher time frame.
We are not going to reach the apex of this wedge anytime soon but it's important to keep that in mind.
We are also seeing higher highs on the RSI on daily but this still doesn't mean much right now sadly.
