I've considered Bitcoin to be in a wave ii correction which need not go as deep as $4300 but can. But it has great fight here. Over $13,700 I have to consider it may breakout to $17K+. But I still prefer wave ii.
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Note none of my work including the larger body of work for subscribers is intended to be a trade recommendation a I do not know your financial means, or risk tolerance. These are valid setups that can provide return, if using tight risk management with stops.