Would you say that your bearish scenario is actually a slightly more pessimistic bullish scenario? I think the bearish count is targeting a significantly lower number than £6100 if you consider that we have potentially just finished a 4th wave and looking to head lower on a 5th wave. The count works either way it appears.
CryptoSync
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@GuyWallace, Yes you are right the $6100 target works with the bullish scenario.
But in past $6250 range has acted as a solid resistance / support.
The bitfinex order book, was also showing big buy walls in that range.
GuyWallace
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@CryptoSync, Agreed. So actually you are giving two bull scenarios? What's your unbiased thoughts on the alternative bear scenario that could play out?