Again we are in another decisive moment, BITCOIN is reaching the latest High around 4200 USD.
Everyone is focused on this level since it represents the expected moment to tackle with in order to know if the market is under the power of BULLS or still under the domination of the BEARS.
Two options can be predicted as more likely among others, one for each one of the “fighters” however, what I see here is, anyway, a Positive reading of the market today.
1st Option, for longs:
After having touched the bottom, BITCOIN has completed 2 Waves and is building the 3rd up:
On this option, the A-B-C Correction is done, forming the 2nd wave of this series of 5 waves up (dark green)
2nd Option, for shorts:
After having touched the bottom, BITCOIN has completed 2 waves and it is building a 3rd one on which its correction (the second wave of this 3rd) is still on going:
On this option, the A-B-C correction is not finished yet and it is expected a fall of the price as soon as BTC touches the psychological barrier of 4200 USD, perfect for shortening, trying the entry again on the Lower Support, just below 3600 USD.
As you can see, both options are interesting, first option would confirm the reversal sooner while the second would take a little bit longer…
What is your “bet” here?
Tell me, would you go for “shorts” or would you go for “longs”?
We are going to discover very soon the color of this market.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.