BTC/USD

Until the 1.618 is broken, my bias is corrective. But if BTC continues up impulsively here, it would be targeting roughly $12,418. This scenario would validate my aforementioned fifth wave from my previous time analysis.

Following $12,418, we would begin the correction down to $10,100-$11,000 that we were potentially tracking earlier. This would make up the wave two of Bitcoin's primary structure.

However, if we move up correctively, we would move up in a zig-zag fashion (5-3-5) to the 1:1 extension at $12,346. This would indicate that we are trading inside of the primary wave 2 correction and are forming an expanded flat. Following this we would expect 5 waves down to $10,200-$10,600. Validation for the Zig-Zag would be a break below $11,600, the invalidation point of an impulse.

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**Until the 1.27 is broken and cleared on this current subwave**

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Impulses are much easier to map out. Corrections are notoriously unpredictable. If it remains corrective, treat the upside as limited: If you have not already entered or do not have a strategy of scalping corrections, avoid entry at all cost.