-Bitcoin found support at 0.5 Fib level -With the confluence of EMA 23 -This zone is also the previous resistance -If BTC finishes today's candle strong -I think it will likely to retest the 50k dollar -The Altcoins are bouncing up from the recent downside -Things are looking very interesting until the weekend -Good luck to everyone who catches strong Altcoins
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Bottom Line: A third wave advance should start not much if any beneath the low on the day.
Analysis: Wave ((C)) of the proposed expanded flat is in five waves and wave ii has retraced a bit more than 38.2% of wave i.
The wave ii of (iii) pullback discussed yesterday appears to have found a low at 47139, which was in line with the cited support zone in the 46-47000 range.
The structure and depth of the setback are consistent with a correction.
The impulsive break above the previous fourth wave resistance suggests five waves are in place for wave ((C)) of ii and that the correction has ended.
We'll now want to see five waves form against the 47130 low to both signal the change of trend, watching to see if BTC can recover above the 50500 high to signal the wave iii of (iii) advance has gotten underway.