We're currently seeing an overextended Wave V, which is trapping early sellers & later buyers. What convinces me that we're at the top, or getting close to it is the choppy price action & consolidation phase we're currently witnessing. Is BTC ready to drop now, or will we see 1 last push up to liquidate all new buy & sell positions?
Looking at 2 possible scenario's👇🏽
1. For Wave 5 (Wave V) to SLOWLY keep pushing buyers upwards until $39,200 - $41,800. This final exhaustion push will bring sellers back into the market.
2. If current price is the Wave 5 top, waiting for a break below $35,000. This structure break will confirm the downtrend📉
Looking at 2 possible scenario's👇🏽
1. For Wave 5 (Wave V) to SLOWLY keep pushing buyers upwards until $39,200 - $41,800. This final exhaustion push will bring sellers back into the market.
2. If current price is the Wave 5 top, waiting for a break below $35,000. This structure break will confirm the downtrend📉
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