The waves suggest a possible next upmove in BTC. Will it be an impulse or still part of the bigger correction?

We will not be able to say that for sure until we have a confirmed change in trend, showing by strong continued bullmoves (and in the best case scenario, a bullish retest of the trendline).

I warned you yesterday about fake breakouts. Today we had the first one of those, when red wave b was trading above the downtrend line for a very short period of time. Only 6 hours later, BTC was trading 1300$ lower in what I suspect to be red wave c.

I'll keep you updated about further developments.

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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
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