Bitcoin continues to move to the downside with strong momentum and appears to be completing an ABC correction from the highs of $64000 which appears to be a 5-3-5 sub wave count in which we continue to look for more downside in this 5th wave of the ABC where as seen on chart we hit a wave 4 top at the of previous C wave 3, completion of C wave 3 was at 31200 on the second which invalidates the Triangle wave 4 count but rather a simple building of an impulse to the downside. We began the downside move from the wave 4 top and came down in a overlapping fashion and then corrected into the in a complex WXY with valid sub waves and intriguingly at 1.382 fib time of the first wave extension to the tee giving further validity to the count. We then have been building sub waves to the downside which are confluent with a larger wave 3 which can take us towards $25000.
This is not financial advice but rather my preferred wave count at this point in time!!
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