Last night we said 11,800 was the magic number.. and we definitely got a bounce . Definitely.
My zone for this bounce was originally $11,500 - $11,800 Pushed it but we got there!
HOWEVER i am not calling this the end of this long ass wave just yet, in the bearish scenario where we are now beginning Wave Four, I would like to see 3 things broken and strongly.
$11,000 & Both the top and bottom of the First Wave within our Third Waves D Wave.
If we do not break these supports, i would assume that Wave Three is still in play and we may have another attempt at 12k with this count.
HOWEVER, Here is where things get nice and interesting. This is everything i am currently looking at in order to see if Wave Four still has the possibility to retrace into our previous predictions of around $8,800 - $10,000.
and we can, just have a lot of support breaking to do.
SO, IF THIS IS WAVE FOUR :
Primary Landing Zones : $9,500 - $10,000 (with a reassessment)
Secondary Landing Zones : $8,600 - $9,300 (with a reassessment)
AGAIN
This is all assuming our primary count below is still in play.
But, what if it isnt.. and our count is done with what we have?
Dont want to be the BEAR-er (ha ha ha) of bad news, but things are looking incredibly bearish , especially when looking at the larger picture. I have discussed this lower low scenario many times.
For deeper info on what i was Seeing around the 12k Line here is a link :
https://steemit.com/bitcoin/@sourlemonball/btc-usd-the-12k-line-the-bigger-picture-18-2-18
BUT , now i have seen a completely different count if we are to retrace strongly for our final wave. I dont like putting numbers on things when i don't have enough data yet, BUT here is still a possible larger picture that could unravel.
FOR NOW lets not worry about these things and focus more on whats happening currently. Support lines are everywhere at the moment, so lets keep an eye on the chart below and see how price action plays out!!
Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!