I still expect one more low in Bitcoin for this leg. There is a chance this zone sets off a large rally. Currently I have a projection to the $4900 region with the possibility of dipping into the mid $3000's. I have said in my public talks, tweets, and articles since the January top was confirmed that $4700 was an ideal fibonacci hit in this correction. And, here we are. Very close. Will this be the ultimate bottom. I can never say until a rally is confirmed. But I can say this is a key area and the end of the C wave diagonal off the February high, looks close.
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the bears are getting tired?
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The bears are extremely short now based on 'Finex and CME futures numbers. Once we start to take out resistance short covering will start in earnest.
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Is there a viable count that has the low already in?
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An unconventional one but requires over $8200 to make likely.
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Nice analysis
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FUD everywhere - love it!!!
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