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Do you see this as wave y for btc and bold blue line as the tip before it comes down to the dotted blue. Please advise.

  ·  7 years ago (edited)

Once the price closed below the bold blue line the blue dotted lines show high probability targets where the market should be held and bounced from. I don't expect any significant bounce. What it will produce though is a new level of daily volatility and therefore new targets.

In terms of EW there are too many variations at this point of time that the entire exercise turns into a form of guessing.

Thank you, very thoughtful.