BITCOIN - correction targets
Now that Bitcoin was not able to breach the resistance line we have two very probable scenarios to look out for!
- This is wave 1 of a set of 5 waves, which would mean that our correction target would be most likely around the 0.5 fib level (0.382 if extremely bullish)
- We are at the start of an E wave to complete an ABCDE bullflag, where we would get one more even lower low
Either way, both of these primary scenarios are invalidated if the resistance line is breached with conviction (which I do not see happening)
An upvote would be very much appreciated. Thank you!