$BTC has just reached a potential Bearish Wave 3 Target.
Now Wave 4 (bearish scenario) can begin and reach a price target between 10.400 and 10.700 USD (max 11K USD)
Once wave 4 is over, a bearish wave 5 is expected.
The most optimistic scenario is that:
- Wave 4 retraces 38.2%
- Wave 5 Fib projection doesn't exceed 100% of Wave 3 amplitude.
In this case, there is still a chance to complete wave 5 of the bullish scenario.
In case Wave 5 is stronger or wave 3 is still in progress, the bullish scenario would be invalidated.
The RSI has already broken its neutral zone, so bears are quite strong at the moment.
Best!
MATHR3E
Now Wave 4 (bearish scenario) can begin and reach a price target between 10.400 and 10.700 USD (max 11K USD)
Once wave 4 is over, a bearish wave 5 is expected.
The most optimistic scenario is that:
- Wave 4 retraces 38.2%
- Wave 5 Fib projection doesn't exceed 100% of Wave 3 amplitude.
In this case, there is still a chance to complete wave 5 of the bullish scenario.
In case Wave 5 is stronger or wave 3 is still in progress, the bullish scenario would be invalidated.
The RSI has already broken its neutral zone, so bears are quite strong at the moment.
Best!
MATHR3E
