From the three options posted yesterday, the 1st and the third seem to have more probabilities of success right now:
The MID-Term support seems to hold as well as the support formed by an old resistance (horizontal line in blue) formed 2 weeks ago:
As I said yesterday, it looks to me that BITCOIN still may have a last movement down to complete a 61.8 FIBO level correction and I expect this movement in a way that it will create a Bull wick up (First option and primary).
Nevertheless, before that will happen, a longer sideways movement may evolve and so the third option is also in play.
I disregard the second, since the market is not behaving reactively these days.
- 1st Option and more likely IMO (Bull Wick formation):
- Assuming that, BITCOIN still didn't reach the bottom of the correction which may be around 61.8 FIBO level (7007 USD)
- (c) Would finish around 7007 just below the Mid-Term Support, completing the (4)th Wave of the Blue count.
- Target of the 5th wave (in blue) around 9000 USD
- 2nd Option (but not expected) (the "explosive" rebound):
- Disregarded.
- 3rd and more boring option: let's slide sideways along the Mid-Term line
Willing to find a better moment for the market to jump up...
...as usual, enjoy Cryptoland!!!
*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.
Posted at TIMM