Bitcoin - Bounce Or Retracement Ottom ?
BTC
Now On Higher Time Frame Notice That The Golden Window Catches Were also in higher Liquidity Just Before the Lowest and therefore Most Significant Support.
So This Is An Ideal Point For Bounce.
I think This May go one or two ways from here.
This May Be Retracement Bottom and BTC Push into the next wave up From here.
Or it may be a Connective wave to Bounce and then see another wave down to deeper fibs that we were looking at previously.
Most Likely I think we see two Outcomes:
1) This will be a 3 wave structure of which we have no had wave 1 (white arrow). From here we may see some sort of weak bounce; perhaps to tap into liquidity above the demand line and then make a lower low (red arrow).
If that Happens the most likely extension ratio will be another weak 1:0.618 Golden Window.
2) Or This May Actually be the Retracement Bottom:
Liquidity has been tapped and we move into the next wave up (green arrow).
3) Or Also it could be something more Complex and will just have to puzzle through it.
I somewhat Favour 1 here.
Because it has been quite a bearish wave and so think it may take another 2 wave to complete the correction.
But 2 very much on the table. This might just be the Retracement Bottom.
Not Advice🚨.
