Bitcoin makes us nervous last week. I told you here that now the price is forming the Wave 5 of Wave C of Global Wave 4. In the current analysis I want to see the subwaves of waves from this Wave C.
You can see on the chart the A-B-C structure of each of five waves. If we take a look at the impulse waves 1 and 3, the subwaves A and C always form the divergence with the Awesome Oscillator. To answer the question, when the Wave 5 will end, we should see the divergence again. I suppose that we can see another one small drop to the $53000 to form the subwave C of Wave 5 before the new upside waves will come. It is vital for Bitcoin, we should not see this drop below $53000, because it means the analysis invalidation.