To me it seems we are in the early stage of a Wave C corrective pattern for BTC. I see this as a welcomed event as over leverage is all too common in BTC and this will be the preamble for the future upswing. The most probable level is around 45K due to Fibs convergence withe the 21 EMA which we have not tested in a very long time. It might go slightly below depending on the market momentum so I see 41.2K a possible bottom as well. Please consider the Avg True Range as an expression of volatility and apply it in relation to the two aforementioned targets.
Nothing is for certain in this business so, as always, do your own analysis and trade carefully.
Nothing is for certain in this business so, as always, do your own analysis and trade carefully.
