After Bitcoin hit the high of $11,300 we saw massive profit taking and a big sell off that took BTC $1k lower. Today we have a bit of a rebound with the probability of another continued selling decline. Hopefully the C Wave is complete and we will not go back to test new highs for a while.
News:
Blockchain Will Challenge Lending Practices:
Ellen DeGeneres Introduces Bitcoin To Here Audience Of Millions:
https://www.coindesk.com/ellen-degeneres-bitcoin-either-worth-20000-nothing/
This C wave is super extended at this point. Its not surprising to see a decline here. If we start to break new highs after this decline, we will start looking towards a Bullish count. However, we anticipate that this first small rally is the first leg of a 1-2 Wave decline.
