Last time I said:
I am showing, a possible scenario that allows for higher whilst above $28'824. A move below $35'548 should see an acceleration below Monday's low of $32'921, and we would use the test of the bottom of the red channel around $31.5 K to buy with stops below $28'000
No real change as it appears we are tracing out a corrective wave iv triangle, with confirmation wave v is underway on a move below $35'548. Sell a break of that level and look to rebuy below $32'910 withs tops remaining around the $8k level.
Last time we said:
Odds favour a move to the $1'914 level. Look to buy there or on a break of yesterdays high at $2'723 with stops remaining below $1'700
We have traded in what appears to be corrective wave iv triangle which is close to ending. A move below $2'329 will signal that wave v is underway and once broken we will count 5 waves to below $2'151 to complete the larger wave C ZigZag correction. Until then look for lower to buy with stops remaining at $1'700.
Written by Matthew Clark