BTC is at an inflection point. I believe it has completed its first primary wave [1]. The question is whether or not it put in a relatively shallow wave [2] or is it still unfolding with a target 10,000 or below? There is a bearish gartley and an A=C target shown by the yellow rectangle. The lime green line of the higher lows is the key, as long as it holds the bulls are in control. Should it fail, get ready to see BTC on sale sub 10K
Shallow C (shallower than A) wave has been common in Cryptos this past year. That could very well have been the last bounce at the 0.5 fib or it could keep coming down again deeper. Either way seems like we will see a large equilibrium pattern form for a while, making it good season for alts. I would be very shocked to see it come down to 8599 again, but wouldn't it be great? :))
alphahorn
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@johannwolf, for stop for me is the green trend line off higher lows around 13,500. I'd like to begin my entry there with a stop just below it. I'm hoping we get at least one more retest of that line