As I mentioned in my weekly update yesterday, BTC looks like taking a pause for a day or two. I am viewing this retrace as wave 4 before a final push higher in wave 5.
- I am expecting BTC to retrace to 56000-58000 area on Monday-Tuesday. After that – a powerful push to 68000-72000 for a week or longer.
- Note that if the coin retraces lower than 56000 and stays in the area, I would be viewing this as a possible sign of a bigger reversal.