$BTCUSD - Market Analysis for Apr 18th, 2021

I was rooting for the more near-term bullish path in red from my last post, but the drop in Bitcoin seems to favor a top in the blue count instead. If the blue count continues to play out, then a 4th wave correction can eventually take price back to 42k - 32k overall before completing.

Otherwise, the only more immediately bullish count I see is that last week's high was the b-wave in an expanded flat 4th shown in red. This path would look best with one more low to complete the wave c of (iv), but not required since WXY structures are more common in cryptos.

I will also say that I think other coins would look best with one more high before completing their respective 3rds, such as ETH, LTC, BNB, etc. However, there is increased risk that the 4th wave correction has already started.