BTCUSD Bitcoin Technical Analysis (Wave Update)

7 Mar 2018

I personally think counting the waves for BTCUSD is extremely difficult currently.
I have updated my wave countings yesterday but I decided to bet on sticking on to my original countings.
The corrective wave has broken the 0.5 level of the wave 1. If it breaks the 0.618 level which is around 10200, we might have to change our whole scenarios and possibly go back to short position. I really hope that doesn't happen.
But before it breaks the 10200 support line, we are still in bullish market and this correction phase is highly normal.
I am pretty sure we are close to the bottom now as we can see that the RSI is around 30.

7 Mar 2018

Not

Trendline and support/resistance