The initial call of $5000 was based on the
possibility of one more repetition of the bearish
cycle as indicated on my previous chart
(see attached)
However, the sudden pull back of the price
action into the blue descending wedge
may change the scenario to include a
second option.....
We may see a correction wave towards $8000
and a possible break-out from the wedge.
If not, then it can come down one more time
to approx. $6000 before it finally break -out
to the top.
No financial advice
Educational purposes only
possibility of one more repetition of the bearish
cycle as indicated on my previous chart
(see attached)
However, the sudden pull back of the price
action into the blue descending wedge
may change the scenario to include a
second option.....
We may see a correction wave towards $8000
and a possible break-out from the wedge.
If not, then it can come down one more time
to approx. $6000 before it finally break -out
to the top.
No financial advice
Educational purposes only
