In the previous update I identified the move from $2980 to $1830 as a W-X-Y correction within a rising trend and expected bullish sentiment to set in. The first target was $2760, and here we are now.
Currently I expect the price to make a new all-time high soon. There is a clear _5-wave impulse_ developing with 4th wave being a Triangle. Key price levels are drawn on chart.
Comment:
Unfortunately, Triangle-based setup proved wrong. The correction continues and I expect lower prices as indicated on the chart below. If price breaks below $2400, the overall bullish scenario is greatly at risk.
Comment:
BTC is set to rebound higher:
