I mentioned yesterday about possible confirmation today of the Tower Top combination and the Three Black Crows. Guess what – both are complete.
Both combination were finalized with a very strong bearish candle that closed just a tad below the daily 50 MA line.
Based on the candle structure, the coin is on its way to the much lower levels. After looking into the Elliott Wave structure, I am thinking of the two most probable scenarios:
- Green path. Wave A has completed. Wave B would be of a complex shape (flat?) that would end no earlier than on April 21, 9 pm, EST.
Wave C could be even sharper than wave A.
Possible current targets: 43000-30000. - Purple path. Wave A has completed. Wave B is about to complete.
Wave C might started any time overnight.
Possible current targets: 43000-30000.
By the morning we should know what scenario BTC prefers.