So far BTC is tracking the same as 2014 correction which I analysed March 9. Expect a large upswing soon.
Been looking at then previous trend to 6000 in Jan. Very similar pattern to this point. Even where corrective waves are in the same fib corridors. Extrapolating with fib gets us to 5557. This would match the of the start of the extended 5th wave in December. The retracement of extended 5th waves will end up back at the start of the extended wave according to . I would expect a decent upswing at this level.
Watch the levels. The profile of the at the moment matches the same profile as the 9000-8300 drop end Jan. I suspect a bull trap at the moment.
It could however take a short cut to 5557. expire in about 8 hours.
Keep an eye on tether being released into circulation ($300m waiting). I suspect this will happen at the start of the next large impulse.
Not intended as trading advice, purely educational information.