...and the answer is also difficult.
I see two possibilities now at the 4 hour-chart.
- The first one: with the last drop, BITCOIN has reached the 5th wave bottom, end of the ZIG-ZAG correction...
3rd wave longer than 1st and 5th... 5th wave short but within the expectations, since "C" is just below "A" Leg... From now on, we should see 5 waves towards the "Target Resistance" in dashed Blue line.
If BTC manages to break that resistance it would be a very good signal of Reversal...
- 2nd Option (among others, of course...): The assumption would be that still the 4th wave is in play and 5th wave is still not initiated:
... As you see I am keeping the possibility to reach a lower level before watching a serious change on volume which supports the uptrend in order to get a HIGHER HIGH...
But till now the Volume does not change so much comparing last days and weeks so...second option is still realistic...
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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