in my last post, i shared two potential trajectories.
btc ended up breaking the trendline \ hit my 22.9k target-
but it came down in 3 waves, which makes me a bit suspicious.
it still technically could be an expanded flat, but that would be a really long B wave, so i don't like it.
much more probable for us to be working on the final fifth wave of wave C.
---
watch for a bounce (w4), followed by a little capitulation to 19k (w5)
this zone will mark a bottom (theoretically).
(a wick could go below 19k, but so long as it gets bought back up, we will be in better shape.)
btc ended up breaking the trendline \ hit my 22.9k target-
but it came down in 3 waves, which makes me a bit suspicious.
it still technically could be an expanded flat, but that would be a really long B wave, so i don't like it.
much more probable for us to be working on the final fifth wave of wave C.
---
watch for a bounce (w4), followed by a little capitulation to 19k (w5)
this zone will mark a bottom (theoretically).
(a wick could go below 19k, but so long as it gets bought back up, we will be in better shape.)