"This is not the bottom you're looking for"
Who really knows with Bitcoin? Even the top trending charters are wrong most of the time if we're being honest. This might be the bottom (or at least a temporary one), but really expect the true bottom to be preceded by a capitulation event and be more explosive. Here's where we stand from a trading perspective. If you missed this bounce, the risk-reward ratio is not super. We are currently nearing the end of our double combo correction.. now officially in wave 4 of the second 5-wave of the 5-3-5 five combo. This wave 4 segment will likely terminate near the trendline connecting the peaks at the end of the 3 wave correction at C, or, at the trendline that has contained the market since the ATH but this is less likely. We will probably keep squeezing into this wedge until we get to around 6k. The wedge trendline convergence and end of the double combo correction should leave us almost perfectly at a double bottom where you should see quite the fireworks, if we ever do get to that point.
Peace and love,
Crypt0guy
Peace and love,
Crypt0guy
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