Bitcoin is not giving us a whole lot to work with just yet but we continue to follow the idea that a major corrective low might have been reached at this point. For more confirmation the market needs to start staging rallies and get above the notorious 9300 level. The rise from the lows is not fully impulsive yet, and we can count the rise as an abc instead of a 1,2 1,2. If bitcoin wants to drop one more time in 5 waves so be it, but it had plenty of chances to demonstrate it and it hasn't just yet. Sometimes when something that we expect to happen doesn't , rest assured the move is getting ready to go in the other direction. Its just what i have experienced over time in my trading. Near term i am looking at the 8800 level to give way to the topside while keeping my defenses at 7800 . Still neutral but my bullish tilt is increasing by the day. Another drop lower towards 6500-7000 wont shake that off , but rather reinforce the idea of a more solid confirmation of a completed correction.
See my BIO for links to additional videos on youtube and elliot wave charts/learning on telegram.
See my BIO for links to additional videos on youtube and elliot wave charts/learning on telegram.