BTC/USD - Don't fomo yet. Bearish scenario still possible
Updated
Hey guys,
as you can see I've labeled the count so there is actually not much to say besides: Don't fomo yet. There is still a chance for a bearish scenario. 6k is actually the initial level I was looking for to enter big before price began to surge few days ago. With respect to the length of the 3rd subwave of wave 3 in c, the upcoming fifth wave (if there will be one) has to end above or at 5.8k. Besides the fact that it would be indeed great to buy alts en masse when the recent low would be taken out, this chart does not necessarily display what I want to happen - it's just an observation as I don't trust this surge in price fully. However, if price takes out the 9.5k level and respects it as a support, I'll be looking for a buy to at least 11.7k
as you can see I've labeled the count so there is actually not much to say besides: Don't fomo yet. There is still a chance for a bearish scenario. 6k is actually the initial level I was looking for to enter big before price began to surge few days ago. With respect to the length of the 3rd subwave of wave 3 in c, the upcoming fifth wave (if there will be one) has to end above or at 5.8k. Besides the fact that it would be indeed great to buy alts en masse when the recent low would be taken out, this chart does not necessarily display what I want to happen - it's just an observation as I don't trust this surge in price fully. However, if price takes out the 9.5k level and respects it as a support, I'll be looking for a buy to at least 11.7k
Note
Bearish Scenario: Note
Bullish Scenario:Note
The alt count for the bullish scenario has been labeled in blue
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