Looks like this is playing out however some ppl saw 9k as the inflection point for the next elliot wave down to sub 4k.. thoughts? I spent time reading and learning about harmonic bat patterns because of this so thank you.
VWuelfrath
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@Gutshot, If the neckline breaks, there is still the 4h 100MA coming at 9000$ and the longterm downtrend (dash red line) at about 9250$.
The risk/reward ratio is not great right now, even if the neckline breaks.
There are a lot of bullish signals, so I'm not sure we will revisit new lows (sub 6k).