BTC has had a decent rally the last week. A much needed healthy correction is needed. The million dollar question is what comes after.
For me, both scenario's are still open atm. Thier are arguments to make for both sides of the market atm. And it all depends on how deep this correction will go. And if we just do an up or the first leg of a bigger EW cycle.
The scenario would mean we will see further corrections downwards and building more support at lower levels.
The EW is the outcome and would mean we had a 1 leg up and are correcting within the .
I trade the momentum for now and set up intraday trades. If you are more of a holder I would wait for confirmation on the taken direction. The indicated levels and text on the right side of the chart will tell you that we have hit some interesting levels. And that there are interesting levels below and above us. Goodluck