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Current Pattern looks to be completing as an ABC Correction. Targeting the 0.5 Retracement level of the entire move down from 10K This would now complete an X wave Up with a Z wave to Follow. Target for wave 5 at 8080 Area.
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This Scenario has BTC making a move up to 8 k before falling to complete wave 5.
2
From the wave count shown, it seems that we have completed 5 waves down and are now in the ABC correction.Waves A and B look complete. We see a Diamond bottom formation currently in play with an expected breakout up to complete wave C. Target range for this is around 7000 USD. If you are currently in a position please remember to set a stop loss below the diamond...
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