BTC (Bitcoin) / USD - Bitfinex - 05 June 2018

2th reactive wave in progress. If my count is correct we should be at the bottom of the A leg. 1th wave completed making a leading diagonal as I mentioned yesterday in my last TA. This drop was expected and I warn you yesterday just before it happened.

More here: BTC (Bitcoin) / USD - Bitfinex - 04 June 2018

Very good buy zone especially by 2th reactive wave is the golden pocket between 0.5 and 0.618 Fibo retracements and the 0.786 Fibo retracement. The length of C depends from the length of B so I draw two scenarios with very big theoretically chance to happen. Ladder you buys in this zone and you should be good and profitable. Set stop loss slightly below 0.786!

If my count is correct we should see the 3th wave after this drop witch normally is the strongest and the longest one. So we may see bull run before the 4th reactive wave at least to 8K$ and most likely to 8.5K$.

If you look more closely you will see inverted head and shoulders but I don't like saying this pattern because it's just 5 waves + 3 waves.

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