MonkeyMagic
Short

BTCUSD lower low - updated count

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As per my previous post - B wave went higher than my first projection and does not look convincingly impulsive to be considered a new wave up.

Since the B wave ends higher than originally thought, then the C wave will end higher than originally thought. If we consider the height of the C wave to be the same as the height of the A wave then that would finish about $8k which is around the 0.618 fib level and also sits us on top of the long term trend line (yellow).

As this correction is bringing us close to the apex of the upward trend line and downward trend line I am expecting a strong break upwards after the correction is complete.
Comment: Strong bounce off the trend line, let's see if the impulse keeps momentum
Comment: Count tells me that 5th wave down is complete. Current move upwards I am counting as new impulse upwards
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