Bottom Bounce In, Next Target on Ring

This is just a short post. I changed the color of the Light Green fib circle set to Black just so you can see this clearly. BTC bottomed out and pivoted right on the 4.618 Black ring. That was remarkable. There's a good chance it will crawl up that line, and make its way to the 4.236 Dark Green where it could pivot to the down side again. If we don't see a pivot there, look for the next possible point at the crossing of of the Dark Green 4.618. Chances are it will NOT be the 4.236, due to the position of the stochastic. We are in the oversold territory, and the bounce could carry the price beyond the 4.236 and all the way to the 4.618 before we see another pivot. IF we see another pivot. In my opinion, we are looking at a pivot and continuance of the bearish trend. With the failure of the S&P 500 after the artificial stimulation (haha), I think BTC is going to suffer as well. More on this later. I will probably have to shoot a video to talk about this in detail.

Carlton Flowers
The CryptoPro