On the Bitcoin chart, we have Two moves ahead. First, the bottom was the low of November 22, and BTC is making the first impulsive wave in a very bullish structure. Second, the up move from that last low, $15600, isn`t more than a C wave which might, structurally, end soon, and the drop might be sharp then the price will resume the bearish big wave down to a new low under 15k. The second move (left chart) is more probably to take place, but if the other will b the correct one, we`ll see potentially a 20% drop in both cases then the price will decide whether path to follow.
(This is from a pure wave structure perspective)
(This is from a pure wave structure perspective)
Trade closed: stop reached:
After hitting the target, the bearish move is getting invalid at this moment, or at least it is postponed. However, making a new low under 15600 isn't probable.
