Hello People. Many have asked me about what I think of BTC and I just wanted to have a little time for price to developed a little more.
I will try to be quick since about what I think.
BTC has a main downtrend top (white line) that is located at around 11k in the current price movement. Keep in mind that is a estimate and BTC could pick up price movement. The secondary trend is at 905k (blue line) and that would complete the 5 EW Cycle. from there we have a correction that ends up around mid 7ks.
The reason why I am saying we will probably end up around 6.6k is not a FIB or a EW reason but a psychological on. The 3rd impulse wave started there and logically most people bought at that price.
These are my thought today and based on what I have learned from BTC price movement and I hope you find them helful.
Remember this is not intended to give you a financial advice but to offer you an educated opinion.
Thank you for your time.