BTCUSD Shortterm prediction: USD 7574 - 7895

Hi there,

At the moment we are in wave C3 of the bigger ABC correction (the purple line) of Wave 1.
I'm expecting a bounce (wave C4) towards ~8250 (fib retrace .5) before we start wave C5.

Target end ABC correction: USD 7574 - 7895 (fib retrace wave 1 - .786 (USD 7657) | fib extension C1 161.8 (USD 7574) | fib extension C.C1 161.8 (USD 7895))

van Leth.

Comment:

Unexpected drop to 7800. I'm still not sure if we had subwave C4 yet, because i was expecting it to retrace alot more. So this might be still wave 3.

Target @ 7574 still stands.

If we fall below 7200. My EW count is off the table.

van Leth.

Comment:

Comment:

We hit the first goal of USD 8250 perfectly (fib retracement .5).

I am not sure if wave 4 and 5 are complete yet, so it might still drop down to 7574 in the next couple of hours/days.
After that we should be starting Wave 3.3 since hitting the 6k level in februari.

Different scenario's
We might break out of this channel on the upside, and are in wave 3.3.1 already.

OR

If we do drop down to below 7200 my EW count is off the table and i will update this post with a more bearish view.

van Leth.