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RE: BITCOIN (BTC) Update: Ok for price to dip back below the Neck Line?
Hi Haejin, thanks for the insights. The head and shoulders is confirmed.
Does this means we are still in Wave V rather than abc correction? and higher highs are possible?
Furthermore even if higher highs are possible we still need to retrace much of wave v to push towards $7000?
Yes, if prices exceed $4,900 or so. I'm selling into this rise and awaiting the Wave IV; so to me after Wave IV down is done, then Wave V will create $7,000 prices.
Thanks Haejin.
I agree. We need to clean out the Wave III otherwise can not see an significant extension above $4900. Only then $7,000 to $10,000 is possible.
Good post.