Bitcoin has rise in v waves from the usd 6001 bottom on Febreaury 6, up to usd 11686, with wave v truncated and not being able to go beyond wave iii. Afterwards, we see a strong zig zag correction. Wave a- down to almost 0,618 Fib. A quick bounce -wave b- back to usd 9990 and finally wave c, which for now, went down to usd 7665.
Now we are left with 2 alternatives. The first one is that wave c is completed and we saw the bottom already in usd 7665. The other one, which I think it will be true, is that we are in subwave 4 of wave c, and still have the last subwave 5 down to around Fib's 0,786 (usd 7218).
Next wave 3 should carry prices up to usd 13100 and then usd 17000.
Inverted Shoulders-Head-Shoulders pattern suggests me that this is a right count, and the bear pattern of previous intermediate wave 4 has ended, and we are ready for the bullish intermediate wave 5. Price dropping below usd 6001 eliminates this count and indicates intermediate wave 4 is not over, which could go as low as 4902, top of intermediate wave 1 (not shown on chart).
Now we are left with 2 alternatives. The first one is that wave c is completed and we saw the bottom already in usd 7665. The other one, which I think it will be true, is that we are in subwave 4 of wave c, and still have the last subwave 5 down to around Fib's 0,786 (usd 7218).
Next wave 3 should carry prices up to usd 13100 and then usd 17000.
Inverted Shoulders-Head-Shoulders pattern suggests me that this is a right count, and the bear pattern of previous intermediate wave 4 has ended, and we are ready for the bullish intermediate wave 5. Price dropping below usd 6001 eliminates this count and indicates intermediate wave 4 is not over, which could go as low as 4902, top of intermediate wave 1 (not shown on chart).