Hi everyone,
Markets seems to be indecisive and with the current price action we might have to consider multiple scenarios.
As traders and investors it's very important to have multiple scenarios in mind so we can be fully prepared, or at least, as best as possible!
The ABC wave could be still in the making, with B Wave already ending (thus didn't extend that high) -» C Wave should than happen after we break down out of this consolidation.
The ABC wave could be invalidated ( this can happen since nothing is a certainty) and we might see a bullish break after this consolidation -» we then have to see if we retrace back to the previous 1.9 zone and can break it. How we eventually break it is to be seen.
BTC is still king and thus dictates most of the time what will happen.
So far it didn't manage to break up it's previous support thus making it a resistance after it fell out if the wedge.
Kind regards,
Noel
Markets seems to be indecisive and with the current price action we might have to consider multiple scenarios.
As traders and investors it's very important to have multiple scenarios in mind so we can be fully prepared, or at least, as best as possible!
The ABC wave could be still in the making, with B Wave already ending (thus didn't extend that high) -» C Wave should than happen after we break down out of this consolidation.
The ABC wave could be invalidated ( this can happen since nothing is a certainty) and we might see a bullish break after this consolidation -» we then have to see if we retrace back to the previous 1.9 zone and can break it. How we eventually break it is to be seen.
BTC is still king and thus dictates most of the time what will happen.
So far it didn't manage to break up it's previous support thus making it a resistance after it fell out if the wedge.
Kind regards,
Noel
