With the markets extremely oversold at yesterdays lows, it comes as no surprise that a substantial bounce was in the works. We remain cautiously bearish that this is a 4th wave correction and that continued selling may continue. Now is not the time to load the boat on the exuberant hype of a new high coming.
News:
U.S. Senate Banking Oversight Committee Hearings On Cryptocurrencies Today:
Bitcoin is appearing to correct in a 4th wave. This is a good time to look for scalping opportunities in BTC and ALTs but this is NOT a stable place to buy and hold.
The pink 4th wave should end here otherwise this would be a new 1-2 impulse to the downside.
