SO
from this morning , we have seen the more Bullish E wave option play out where we have had a landing zone within our noted $11,500 - $11,700 Region.
So this seems to be playing out nicely, we could rise again back into that region for a double top shortly, or we are down from here.
(will also discuss what happens if we break this support region at the end of this post)
IS THERE A POSSIBILITY THIS COULD BRING US TO 12K??
100% there is that possibility but it is unlikely, however if the sub-sub-waves of our E sub-wave are counted differently we can see a potential count that may lead us into that 12k zone.
Another recount could occur in the overall grand scheme of our Primary Count.
But that would call out our wave 4 as being a lil bish and not retracing as much as it should have for us to get future juicier returns.
In my opinion, i still believe a proper Wave Four is needed in order for us to push forward with more power to the big old $12,000.
HOWEVER , this is where things get juicy.
I believe if we are to breach $11,700 with some proper force, we may rally to 12 k.
NOW, this 12k line is a big deal.
Breaking it strongly could confirm our bullish scenario of our Double Inverted Head And Shoulders
OR
A strong bounce could confirm our lower low that has been on the talk for a while now.
I still stand by my 2 scenarios , which i go into more detail in a post i made a few days back:
https://steemit.com/bitcoin/@sourlemonball/btc-usd-the-12k-line-the-bigger-picture-18-2-18
Have a suss and let me know any other thoughts.
This market is becoming harder to read, but if we all find as many possible scenarios as we can, we can all be prepared for each and every outcome to unravel.
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!!