BTCUSD retrace Update: Bitcoin painting an ABC correction ?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC looks bullish again, but it might just 'B' of an ABC.
The drop was a clear 5 wave impulse down. perhaps the A.
So now we watch the possible wave B with 2 potential targets.

Break of the red 1.618 at 5125 decreases the validity.
Break of the red 1.236 at 5212 pretty much invalidates.
Break of the red Impulse at 5260 would confirm bull again.
Comment: Nice confirmation of the 5056 zone on live chart

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.