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RE: Bitcoin (BTC) Morning Update: The Sellers Are Weakening!!
On the daily BTC charts it looks like there is another up wave and a down wave still to develop, The finalwave would take BTC below $10,000.
Appone I suspect we just completed wave 3 of the C wave down. I don't have the sub-waves drawn in here but picture 5 waves down within C. A slight bounce up in 4, then finish down in 5 satisfying Elliott Wave and Reversion to Mean models.
Then potentially rally. But I'm cautious. Aside from TA this crypto world still satisfies many criteria for a valid bubble. Possibly that burst occurs over this next phase potential rally. Use extreme caution here. Bullishness is excessive which often means downside risk.