BTCUSD - Need a 4th & 5th

17 de abr. de 2019

The big question I'm asking at the moment is whether or not the pump from the market low at 3.1k is corrective or impulsive. Are we going to see another low below 3k or is the bottom in? I personally think there are other indicators that show the bottom is in(Volume profile shows more volume at 3k region than 6k, and similarities in TA to the prior bear market bottom). However, I'm always open to the possibility I'm wrong and that we could see a lower low. I think we'll find out over the next couple of weeks. Essentially we have a 3 wave structure currently which means we need a 4th and 5th wave to confirm an impulsive structure and the change in trend. I'm expecting a pullback to 4.6/4.7k USD and then a continuation up to around 5.8k before a much stronger pullback to the mid 3k/low 4k region.