The count works off a (possible) failed wave (v) ending our bear market.
We have completed wave (1)/(2) and look to be coming to an end for 1/2 of (3).
If this scenario plays out I expect (3) to finally bring us to the magnet, 200D .
We will then correct - wave (4) - and move into wave (5) which may bring us back to an encounter with hard resistance near 6120 -> this resistance is the remains of support that held the market up for so long from Feb '18 to Oct '18.
This resistance will be critical, and should serve as serious road block leading us into larger degree wave II.
BTC is smacked back down to have another meeting with our friend 200W (see previous post - linked) (:
*note: Waves (3), (4), (5) merely sketched to develop the full picture, they are not drawn exactly to scale/price targets.
Only targets right now are i) 200D , and then ii) Support turned resistance @ ~6120.
BTC hit away from 4k level once again.
Range lock between 200 W EMA / 200 W MA continues.
Cleaned that trend line up a bit. Support looks to have held.
Sitting @ 200 W EMA