BTC overnight prce action shows 5 waves up and the start of an ABC correction, which should be done today.
I don't expect much action in the BTC price today.
The volume is still very low, the waiting game continues.
My "no new low is needed" scenario has not been invalidated yet and is still my primary count.
All we need now is a strong move up (bigger than shown in this picture) preferably within a wave 3 and fomo will begin. There is a lot of money waiting for a good buying opportunity, trying to catch the low now. If they think that they missed it, they will likely jump in, trying to not miss out on the next rally.
But for now everything is calm and boring. STEEM/BTC is starting to look bullish though. If we see a rise, I will make an update about it in the evening.
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