We are now at a critical point in our analysis. We are almost at the extremes of the parameters where Bitcoin can fall.
Major Waves - Circled waves Subwaves - Bracketed waves
In our analysis, we are still within the major wave 3 (which is made up of 5 subwaves). We are on the 4th subwave correction, which is an 3-3-5 ABC flat correction. We're anticipating price to stay above the blue structure and start its 5th major wave.
Trade Idea: - Watch for bullish pressure above 13.5k - Invalidation level is below 13K - For further confirmation, watch for the descending trendline to break - Targets: 64k, 80k and 100k