Hello Everyone.
$BTC
Let's have a look at the possible scenarios for Bitcoin.
after the last move to the upside, we see some cooling down period on the BTC chart. So for the short time, we can consider Wave 3 to be finished and over the weekend, we will consolidate in the wave 4.
Wave 4 is considered to have a Flat Structure in an ABC in which wave C consists of 5 moves. the relevant targets for wave C are around 33.3K to 32.8K. By retracing so deep into this area, we can expect to see a bounce from that region to at least 36K as the next target.
on the other hand, if we fail to correct to the 32K region, we might expect wave 4 to turn out to be a triangle in an ABCDE pattern which is way more complicated than the previous scenario.