Creating a nice base here. If the market cycles approve we should see a bit of a rally here toward major resistance levels before coming down again. Invalidated if we break lower now as shown in my previous charts (if we bottomed the 3rd extended wave, and still need to complete the 5th down). If the 5th wave completed at $3400 then this should be the short term...
Seems like that wave 3 has extended and we waiting for final wave 5 down. Possible targets which lines up with down trend channel is around 2800 (highly likely to break much lower to 2500 range as it usually wicks pretty aggressively)
Here is my official BTC bottom I have in sights based on the movements from 2013-2014 which we have mirrored pretty accurately. Dependent on how high the bounce is (currently seems like mid $5000), but it looks solid like this in my opinion at the moment where we will wick down quite aggressively again into the high $1000 (low $2000) range.
