There is a strong possibility that there is another rally coming. Here's why
1. The wave principle has not been broken by the new low. The 4th wave has not overlapped Wave 1. This means that we're due for another impulse wave. The guidelines says that it should be similar to wave 1 in length
2. There are reversal candles near the trendline support.
3. STOCH RSI Bullish divergence - see purple lines
4. BTCUSD fear is cooling off and is trading sideways . A trend upwards could boost the start of the new BTS wave.
Target: 5000. Stop loss : a close overlapping wave 1's price line
Don't forget to take profits along the way.
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Taking too long + Not sure that the bear cycle is over. This might be a bigger B Correction Wave that goes up a bit,
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Actually went short because of the failed 5th wave. This means we're still in a bear market