Good evening folks! Here comes my update on BTC.
After the price surge yesterday, a new structure has been evolved. Today we can see a ascending wedge forming. Resistance and support lines got enough confirmations to be legit.
I can count wave 4 in progress which is just gliding on the support of 7,410 usd. Meaning wave 5 is to be expected. From here we can see 3 different scenarios (from my view). Wave 5 can break the intermediate downtrend resistance line in black and that means we get an extended wave 5 which even can break the next resistance at 8,200. If we cant break the next resistance we may see scenario B and we start the correction. Note that the path of the correction is not correct shown yet. In scenario C we start the correction after a bear break of the rising wedge.
We are yet again close to a very exciting area where decisions are going to be made :-)
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