$BTC
The pullback is becoming quite deep for the prospective wave (2), and there are still no clear signs of a bottom. As a result, the probability of sustained upside follow-through is decreasing.
A break below the February 12 low would technically invalidate the 1-2 setup. If that happens, I will shift to the assumption that circle wave B could still be unfolding. However, for that scenario to remain valid, price would need to respect the support zone between $64,558 and $62,604.
BTC
67,025.05
+1.15%