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RE: Bitcoin (BTC) Morning Update: Short Term Jives with the Long Term
A lower low is coming - but I Still see this as an ABC zig zag where C has finished sub-wave 4 and has started Sub-wave 5. Sub-wave 5 has finished it's own sub-wave 1,2 shown below. Considering sub-wave 1 of 5 of C dropped around $877 we can expect a fib ratio
sub-wave 3=1.618X sub-wave 1 and
sub-wave 5=sub-wave 1
we looking at worst possibility of a dip down to $4300 range. But one thing is very likely that we will dip below Feb 5th low of $5900.00.
over all correction can be viewed as ABC zigzag as shown below
the peak where you put B is below the previous high. This changes how to count the five subwaves of C.