Bitcoin - Going for 20K or 100K first ?!I have 2 counts for Bitcoin at current level.
First one you can see higher and the alternate one is here below.
Count 1 :
suggests we finished red wave 3 and are now consolidation for red wave 4.
Seen how shallow the wave 2 retracement is, we can expect something similar and not too much out of proportions for wave 4.
After this wave 4 pullback we could then see price go for the 261.8% Fib projection of red wave 1 which is at 115K !
Be aware though that a new high doesn't immediately mean wave 4 is over as it's possible we get a Flat or a Triangle correction and in both cases wave B of those corrections can make a new high before going lower again!
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Count 2 :
suggests blue wave 3 is over and we are now in a larger wave 4 correction which can last nearly a year seen that blue wave 2 lasted 260days and waves 4 often have a tendency to last a bit longer in time than wave 2.
This correction would then also be much deeper than that of the first count, with potential support around the blue noted zones at 29K/33K or 18K/22K.
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In conclusion
Better be cautious for the moment and wait for any of the counts to be validated before putting your hard earned money in.
