This is an update for my previous post here:
In case wave (2) has been completed and has since moved on to wave (3), here are some areas of resistance for the potential impulse wave.
If BTC goes below the 7720 levels, then consider that wave (2) has not fully completed yet or that there is an impulse wave failure.
A bearish scenario also remains if BTC goes below the 7240 levels, which was the wave ((2)) low.
Please ignore the arbitrary positions of the floating (3), (4), and (5) as they don't represent any price targets.
In case wave (2) has been completed and has since moved on to wave (3), here are some areas of resistance for the potential impulse wave.
If BTC goes below the 7720 levels, then consider that wave (2) has not fully completed yet or that there is an impulse wave failure.
A bearish scenario also remains if BTC goes below the 7240 levels, which was the wave ((2)) low.
Please ignore the arbitrary positions of the floating (3), (4), and (5) as they don't represent any price targets.
BTCUSD is nearing the 7240 low, having retraced nearly 100% of wave (1) and already breaking the blue up-trend line which is bearish.
Watching if BTC will break below the wave (1) low for a possible down-trend, if not a bounce.