Coinbase UpdateThere are multiple different counts/pathways that price could take from our current position. Crypto has continued to rise over the weekend so I find it highly probable that Coinbase will open higher and very possibly have another big day tomorrow. The question is, will that last?
Now for the possible pathways that price can move from here. As you can see there a couple turquoise labels on the chart. These are my ALT counts as of now. What they are suggesting is that wave (B) wasn't quite done yet and we're now in minor wave C of (B). If price breaches our last high of $263.77 this will become my primary. Until price can breach the primary wave ((3)) high of $287.46, this is still a valid count and will remain my primary until/unless price can breach that high. I have redrawn the retracement fibs on the chart and the 0.786 @ $267.12 is the next main line of resistance. I have also drawn green extension fibs on the chart which govern the abc pattern should this still be in wave (B).
My white count on the chart, is still my primary and structurally is still 100% valid. However, unless BTC starts to tank overnight, I feel my ALT will become my primary count. We will have to wait until tomorrow for the answers we seek, but nonetheless, I feel we should get some answers as to our immediate pattern at the least.
