Are we bullish, we should know shortly

As you can see bitcoin has completed the A and B wave of it's correction of it's five wave impulsive structure off our previous lows and is set to complete it's C wave down. I've been waiting all day to see what happens here. I have a theory that the market knows what it wants to do well before any of us do. With that expectation I believe the B wave took as long as it did to complete because the market doesn't want to go below the downtrend line just below the highlighted box. We will know after the completion of this wave if we are going to see the 5 wave impulsive structure I've been expecting to see in this C wave up (previous illustration available in my idea section). My one concern is the tops of the wicks that I have an arrow pointed too, that is clear rejection of that level and not a good sign. If we break below that trend line it will not be good for the short term future of bitcoin as I would expect anything below that trend line to be a bearish sign with a target of less than $3,000. That's not me being dramatic that's what my indicators are telling me. We will know shortly.

Thanks for taking a look, as always these are my ideas for my trades and not to used as advice on how to trade. Any feedback is always welcome.

Mycomorel35

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