Short target 600-. Stop 1500+
In green scenario we're already in wave 3 of (3) and should skyrocket to 2000+ in no time, kinda till june 1st. The main confirmation will be breakout above green long term trend resistance line.
This is the best we could have.
In red scenario, we've finished huge year-long wave ((B)) and are going to make huge year-long wave ((C)). Currently we're in wave A of ((C)) which could be zizgzag itself.
Confirmation of this bear scenario is breaking below 760 - invalidating bullish count.
Technically both scenarios are possible and outcome depends on whether hardfork happens or not.
Currently market thinks that hardfork is unlikely, but we all know how it could radically change in minutes. So it is good time to temporarily hedge your bitcoin positions at near-1200 prices.
It could be rapid selloff and beginning of year-long bearish trend.
Again, if prices climb above 1300-1400, there will still be some pullbacks to rebuy.
This is the best we could have.
In red scenario, we've finished huge year-long wave ((B)) and are going to make huge year-long wave ((C)). Currently we're in wave A of ((C)) which could be zizgzag itself.
Confirmation of this bear scenario is breaking below 760 - invalidating bullish count.
Technically both scenarios are possible and outcome depends on whether hardfork happens or not.
Currently market thinks that hardfork is unlikely, but we all know how it could radically change in minutes. So it is good time to temporarily hedge your bitcoin positions at near-1200 prices.
It could be rapid selloff and beginning of year-long bearish trend.
Again, if prices climb above 1300-1400, there will still be some pullbacks to rebuy.
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