The Long Investor

$BTC TOP 20

Added 2023-04-22 22:12:23 +0000 UTC

We have gotten the pull back we expected and so far it has pulled back exactly to the 0.238 Fib, for this to be a proper corrective ABC pull back, this will need to complete 3 waves and so far I am only seeing one wave and it is not clear yet whether this is complete yet either. I will need to see this move down to at least the 0.38 Fib for Wave 2 to complete.

So What Now?

So far, the structure is behaving good and healthy, this needs to continue, bulls do not want to see parabolic moves here or this will collapse the structure, if this can come back to the Fib levels 0.38 and 0.618 and hold, this would be a very strong position for Bitcoin and a good area to buy. If you like Bitcoin, start considering where you would like to add a position. For me, I am not in a rush here to add, I would want this to come back to the 0.618 Fib for me to consider buying.