The situation continues to develop according to the previously discussed scenario. Bitcoin is struggling to move higher but is failing to achieve significant gains due to the corrective nature of this movement. Further attempts to rise are expected to remain unsuccessful until the zigzag formation is complete.
This pattern is anticipated to serve as wave ii in an emerging downward impulse. After the completion of this corrective rise, the price will begin an impulsive decline, during which subsequent directional waves will form.
Opening any trades within the current correction is not advisable, as the upside potential is quite limited, and the timing for short positions has not yet arrived. Therefore, it is recommended to observe the situation from the sidelines for now.
Investment idea: FLAT.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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