More than a year ago I started forecasting BTCUSD for a friend in a series called Sunday Notes written in Macedonian sent in a private chat on Viber.
I am now continuing to follow BTCUSD here.
BTCUSD
In the previous posts to my friend I wrote that BTC is in a correction to a zone of 9730<>8490<>7240 and I also forecast that second leg will be contained in the 11115<>11662 up to 12358 (on 29 Jul ). It made it's high at 12325 to start it's final leg of correction down to the lower zone, and as I wrote in the following message (from 2nd of Aug) it will most probably go to 7240.
Now, the fall to 7240 is in it's final approach and the correction will most probably finish there to continue up to first break 13764 and then the all time high at 19891 (Bitfinex) to continue up to min target zone of 24278<>34818 (base on assumption that correction ends at 7240. An update of this levels after finishing of the correction).
Fall below 7240 wont negate this scenario but will indicate weakness. Fall below 5470 will raise serious doubt and open door to completely opposite development, and the break below 3224 will definitely negate the UPtrend scenario and confirm we have final leg of the larger correction down from the all time top at 19891 still in place and a serious weakness of the BTC.
At the moment I am more inclined to the UPtrend scenario.
EURUSD
Almost touching (40 pips above) the upper level of the forecast zone from previous post (1.0865<>1.0814<>1.076) and not showing definite signs of finished correction and reversal up at the moment of writing, but needs to be monitored closely.
It will very possibly finish the correction in the next few hours to a day to continue up above Feb 2018 high of 1.2555.
NOTICE: These are not Trade recommendations or advices and I don't accept any responsibility what soever.
