BTCUSD, SHORT

Fundamentally speaking, whatever goes up must come down, but the question is when. BTC has been proven to the new XAU.

From a technical stand point however, I anticipate BTC to go up higher. Then dropping down dramatically on the macro level. At a micro level, here, in 120, we can note that we're in a corrective state, after completing the final wave 5 of Elliotts Wave.

The correction has retraced past the 61.8 level of wave 5 and has maintained its levels above this.

If we break above the resistance levels (1346.09) we can expect a move up.

However if we break below 1300 its a sell down to 1285.47

Lets see how this rolls out ;)