$BTC 4h chart has locked in the 5 wave pattern at the making of the C wave lower than A wave. The current C wave close being $44671.58 as in Coinbase data. The C wave down have also made the target (1.618 times the 5A move).
I am expecting a new 1-5 wave up pattern from here. That expectation would be crushed if we retrace pass the low of wave 4 at $37300.00. A reasonable retrace target (if we do retrace more) would be the 200 period average on the 4 hour.
This recent move down is partly due to $ARK reducing exposure to crypto related stock. I am still bullish $BTC from a perspective of swing trading.
The analysis is based on TD D-Wave theory by Mr. Tom Demark.
I am expecting a new 1-5 wave up pattern from here. That expectation would be crushed if we retrace pass the low of wave 4 at $37300.00. A reasonable retrace target (if we do retrace more) would be the 200 period average on the 4 hour.
This recent move down is partly due to $ARK reducing exposure to crypto related stock. I am still bullish $BTC from a perspective of swing trading.
The analysis is based on TD D-Wave theory by Mr. Tom Demark.