Another leg lower to $28k is expected before buying.
Expect another leg lower before buying or a move up above last week's high of $2020.
Last week we claimed that:
‘BTC has continued to trade sideways with a low set at $28k. A break there will signify that wave (v) is unfolding to new lows. We would look to buy lower.’
Nothing has changed since, with no break YET of the $28k level.
I await a further downside sell-off in 5 waves to complete the larger wave (4) correction shown last week, before buying.
Last week we said that:
‘We are continuing to look lower whilst below $2'085 and would look to sell now or slightly higher in the $1'940/$1'996 area, and looking to rebuy lower at the $1'540 level’
I have changed the count to show a larger wave (iv) triangle playing out, but remain bearish for lower. If long, we would look to sell now and buy back lower or on a move above last week's high of $2'020.