BTC – Speculating Bullish Market Structure / Cupception
This is one of my more speculative charts, market conditions can change and wave structure is based on likely supports and resistances.
1. – The current price action is making a with on the , the target for this taken from the flagpole is the 10k area. (Wave 3 target, wave 4 being placed at a support test)
2. (Green) – Current price action also seems to be a with a as the handle, the price target for this is the 11.5k area. (Wave 5 target)
3. (Blue), Correction – Once the Green target is reached, this would make 5 waves up, with wave 5 being at significant historical resistance, I believe this should spark an correction, which can make a handle to an even bigger .