Bitcoin has been ranging from $8600 to $9100 for almost 5 days. It's been an even battle between the bulls and the bears and we'll have to wait and see if bulls can push and close above $9100 or if we are going to test $8600 region again. This is my EW count for the bearish short term scenario where we head to the golden pocket fib. Should price head downwards from the resistance at $8775, this starts the 5th wave of the (c) wave going down. Since the massive pump at the end of October, we've been in a WXY correction and price reaching $8500 would end the Y wave and start the next wave major wave up. Buy area would be between $8600 down to $8400
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.