MAGICMARK

UPDATE - PM, April 4, 2018 - Bitcoin in its darkest hour

BITFINEX:BTCUSD   比特幣 / 美元
Guys, I've decided to put Scenario B back on the table. Zooming into the data, I see we could be in wave B of a ABC correction. Others think this is about to turn into an extended wave 5, which is also possible. So it's possible that mini wave 4 is not complete.

So to recap:

SCENARIO A - assumes we are still in mini wave 3, and the rally of yesterday is just noise. Showing a bounce off 6k or slightly lower, and then after completing wave 4 we go down to a bottom, completing both mini and grand wave 5, showing a potential low of 4k.

SCENARIO B - assume we are still completing wave 4, and current dip is simply part of a micro ABC correction. Showing a potential reversal at the All-Time-High trend line 2, but a bounce of the Fibs is also possible. Then we drop to 6k or lower to complete both mini and grand wave 5. I am starting to like this scenario a little more, as we expect a nice bull run after grand wave 5 completes. A double bottom to confirm THE BOTTOM would be a great way to start a bull run.

SCENARIO C - assumes we have finished wave 4 and started wave 5. On the micro scale we will have some very small recoveries and drops along the way, but eventually, we should enter the target box area. Showing a bounce around 5k, close to support and a Fib.

Remember, only a fool counts on one scenario!

Do not use for investment decisions. For educational purposes only.
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