So far, BTC is following the extended path to complete wave 5 to end minor degree wave 1. IF price falls below $86k, then I may have to up the internal wave degrees to lower the targets, but even then, the extension target should be 2.618 fib extension of minute degree wave 1 and 2; at $160k. For now, I am watching if $96k support holds for micro degree wave 2. This week will be crucial to get back on the narrative train and start making higher highs. Longer BTC is stuck in this range, greater the probability of distribution cycle and that will not be good for the overall crypto market.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.