I have to make reference here to my post published on January 15th, called "BITCOIN: Current Possibilities".
There, I planned two scenarios, depending if the 5th wave was already completed or not...
Well, what it seems now is that the previous 4th wave formation has lasted 5 days to complete and what we are seeing right now is the final 5th wave down...as an extended wave.
The target support 1 has been crossed by the price, reaching resistance at the same level of wave (3) and creating a double bottom which is a good sign of recovery but, the (5)th wave down needs one last move downwards, so, using FIBO levels I feel that 4425 USD can be a good "entry" or ground from which BITCOIN can start another cycle upwards...
*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.
Published by Toofasteddie
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