BTC - daily update 2018-08-04

It's been a while as i was busy setting up a new own platform and posting during this time only for premium members from Marius Landman.

But now its all set up and it's weekend which means i have more time to watch BTC :-) Here is what i see

We have seen some nice bull action on the good news event from yesterday, from the NYSE. Day trader traded the news event. We got out off the falling wedge just to form another triangle of indecision and as we entered it from a bear move, we are very likely to break it bearish as well. We now even created a bigger falling wedge which i mark in red. The next level to watch is still the same, the 0.50 fib zone at around 7,145. From here we like to see a reversal with convincing bull volume behind it. The volume will determine if we see 3 or 5 waves up in the coming move. If we see 3 waves up, we are very likely to see a bigger (WXY) correction. With 5 waves up we going to break the downtrend resistance in the small yellow box "critical crossing" and this will bring us closer to a confirmation that the bigger wave 3 has started.

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