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RE: BTC_Morning Update: What are Fractals?
For the current leg down you are right, - we are looking to bounce from $13550-13600. But impulse waves don't start by bouncing around. Especially third waves.
Yes, there's a very strong band of support between $11700 and $13860 provided by the Gann's square of 9 daily cycles congestion zone and we will need quite some time and effort to level it off and to eventually break it through. But once it's done there's nothing serious to hold this market all the way down to 233 days WMA currently @ $7700
Last but not least we are not talking tomorrow or next week, we are talking 6-8 months from now.