BTC mid-term outlook

NASDAQ is sitting at Golden ratio since its ATH and looks like forming Island Reversal. Quite clearly BTC lost its corelation with legacy markets lately but who knows if it starts getting inline with them now. So I find this situation a bit tricky.

Now I am looking at two scenarios whereas none of them may play out as expected.

I hope the chart is self-explanatory.

Cheers :).

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This is the update of the following setup:

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Long target

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Short target