Wave 5 of the impulse wave up was stopped at 10k, when it normally would break it. This means people will keep taking profit at 10k. This is why I believe wave 3 (target 11.7k) will fail. The X will show failure, and BTC will have to correct more.
For now we target 61.8 fib or a little lower before starting wave 3.
We took 5 weeks for 5 waves, so my timeframe...
BTC bounced off of the 61.8 fib, and is now going down. We might see a small bounce around 8.5k. But in my oppinion it's still very very bearish. Only if btc breaks above 12k I would think otherwise. For now, short is the way to go.
My target is 1860
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