Here is again the bigger picture of BTC. Why am I showing this? Because it is decision time again:
BTC is literally at a cossroads. It broke the downtrend and is now within the old uptrend again, but there is a problem:
BTC is likely still in yellow wave 5.
The coming correction will likely bring it back down again like this:
At the wave 2 low BTC has to show some good upward momentum, which is what we will be looking for.
The only good thing about this is: IF we see it develop like in this last pic, the chances of BTC dropping down to 4000 later this year will be very low... Stay tuned...
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
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