BTCUSD Possible Bottom Bitfinex

The price action around the long term uptrend line was not very convincing to me.

I expect a short lived upwards wave followed by further correction to 6000 where we could have a double bottom. That’s nothing new neither is it interesting.

From my point of view a descent to 5200 is not unlikely. That level is defined by the 3rd arc pair of a daily setup and the bottom of a square of a 240min setup.