What to expect now...
I always think that it is better to have a follow-up plan than not to have one. Evaluating possibilities is what technical analysis tools provide us, however, the market is always looking for a way to change your projections to a lesser or greater degree. Anyway, let me share with you how I see the panorama today:
Given the bounce produced over the 29000 USD I shuffle the following EW count which is the one that I see most likely today for it to happen. Of course there are others and many other analysts can see it differently and make other counts but this is the one that I see more "balanced" at present.
I still maintain the 5-3-5 correction, marked with the capital letters in green surrounded by a circle A-B-C. I will try to explain the graph a bit because it is too "dirty": The first arm of the correction (A) was completed on June 23, what has come next are the A and B subwaves (in black and in parentheses). Specifically, wave B in black was the one we completed yesterday when we bottomed out at $ 29,000 with a succession of 5 sub-waves. Therefore, what we are going to see is a C wave (in black in parentheses) surely decomposed in 5 subwaves and perhaps reaching the level of $ 42,000 applying FIBO if not higher. This wave C will end up forming (B) of our general 5-3-5 correction plan ... The bad news is that even the correction should not have been completed in my opinion, we still have (C) that is usually quite powerful returning to the starting area, a range between $ 30,000 and $ 25,000 IMO. What comes next, if not a more complex correction, will be the continuity of the BULL MARKET. and, nothing else ... I just hope that this is the path that BTC follows. The other crypto will do what we all know by following the crypto king, moving in rhythm with him and some in a more explosive way. For my side, I am happy to have covered some positions that I had on hold for a few days especially with DOT and RUNE now I just have to navigate waiting for the plan to work.
Again, do your own research and do not get confused by my "mental masturbation" ;-)
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.
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