The TradingPlan in-Bitcoin -fter Elliott waves is still valid. The-BTCUSD-has made its first anticipated sell off and is still likely to be in the consolidation wave 2.
We have already reached the first return zone of $ 6,600 (38.2%) and now the c of the ii is consequently processed at approximately $ 6,900 (61.8%).
Following I expect the much sharper sale then as wave 3 of the c will be called.
The alternative low-likelihood roadmap could reverse the trend in the 5,700-5,800 range as it provides a strong support zone. If this stops, the run-up could start there, too, but it is still too early for that.
The parent bearish scenario is negated only when the $ 7,412 mark is exceeded. The first sign of this is when the red falling resistance line is exceeded.
Greetings from Hanover, Lower Saxony
Stefan Bode
P.S. Please keep your fingers crossed and share the info if you liked it.