According to my analysis, the fifth wave of the downtrend on BTC should be complete and now the wave A scenario should playout. I have taken into account two possible retracement level of the 5th wave. Price maybe heading to a 38.2% retracement ($39,805)before continuing downwards or a 50% retracement ($ 40,200) before continuation. Lets see.
N.B. This is only my personal opinion, not to be considered as financial or investment advice even remotely.
N.B. This is only my personal opinion, not to be considered as financial or investment advice even remotely.
Comment:
Looking at the chart currently, I am getting a rising wedge pattern. Hopefully the break will occur once the retracement is complete. However if the retracement level of 23.6% is considered to be a breakout point for the wedge, price will be heading downtown now.