Bitcoin price bounced after publishing CPI index and this favors a June month without FED changing the rate.
As I said previously if the price keep up the 0.382 fib retracement we may continue with a 5th wave to the upside.
Probably we have a Triangle consolidation for 4th wave (blue triangle) and is very logical after wave 2 being an extended flat from the rules of alternation. Also we may have a B wave (red triangle) a triangle as you well know the B wave of a triangle is usually complex.
A break above 0.764-0.854 fib retracement, comparing C wave, will invalidated the triangle pattern. Also a break below AC (blue count) will invalidate the triangle pattern as I am expecting into this zone to turn down for E wave.
So after all I said we may still stay into this annoying consolidation a couple of days but the things are looking good if this count is correct.
Good luck and give a like if you like my analysis also follow me for future count updates.
As I said previously if the price keep up the 0.382 fib retracement we may continue with a 5th wave to the upside.
Probably we have a Triangle consolidation for 4th wave (blue triangle) and is very logical after wave 2 being an extended flat from the rules of alternation. Also we may have a B wave (red triangle) a triangle as you well know the B wave of a triangle is usually complex.
A break above 0.764-0.854 fib retracement, comparing C wave, will invalidated the triangle pattern. Also a break below AC (blue count) will invalidate the triangle pattern as I am expecting into this zone to turn down for E wave.
So after all I said we may still stay into this annoying consolidation a couple of days but the things are looking good if this count is correct.
Good luck and give a like if you like my analysis also follow me for future count updates.
Comment:
Count invalidated
Comment:
this count is still valid
