Bitcoin's next support targets are shown below for your awareness. I've placed the C correction ending before $8,875 because this is supported by the trending wedge being formed from the ending of the A wave through the forming C wave, the AB parallel line, the length of the A wave, and best supports the H&S bottom idea. If this holds true, then the 28th is the day to watch. That being said, breaches happen before they reach the wedge tips, and since we are still impulsing, the wave shouldn't go lower than the previous wave high of $9,090.
Now could it find deeper support? Sure, there is no way to predict the actual target; sentiment is still weak, so my skepticism remains high. Many other analysts, including Haejin, are also predicting lower retracements, showing a H&S top, but I still don't think the volume is confirming this, as I've said in previous posts. Regardless, if it does go lower, this still doesn't point to a total bearish reversal YET, just keep watching the supports.
Healthy trading and profitable investments,
The Freedom to Be
Legal Disclaimer: The information provided herein is for informational, or entertainment purposes only. I am not providing financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs, and only invest what you are willing to lose.
If you profit from this idea and would like to keep the charts coming, wallets are below:
BTC: 13mG7EsCBB3wK2pQnV4zXqXUXmnVtCbmS6
LTC: LTfKUD4g4zytwbLFsFCJyG6N55xu3mtZYJ
ETH: 0x800fe4a5a75af9034f4982c04bdd4b557dca0f3f
BCC/BCH: 1QmchfEizCkLLweNySkAJmBCJ6zEtfkBB