As explained yesterday... currently there are a lot of chances that the end of the correction has not been reached, and so, there may be a last move downwards in order to terminate the 5th wave down.
BITCOIN is now approaching the first target support on which I would expect some hesitance but, in order to complete the 5th wave down, I think there is a high likelihood of reaching a lower price than the one reached by the 3rd wave.
Using FIBONACCI Levels, right now BTC is touching the 61.8% of total retracement but, as you can see, does not seem tome that the movement is facing a strong resistance against...
Next FIBO level (78.6%) is 3365 USD, in my opinion, we are going towards that level of prices so, I am laddering my entries from 3400 to 3365 USD...
Independently of the support, we may expect a new cycle upwards which should bring the BTC price to test, in a few days, the Target Resistance.
*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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