Trader Banmu Xia: BTC's potential upside in the next month may be in the $103,500-$112,500 range.

Trader Banmu Xia posted that BTC also saw a surge in the early morning, but the magnitude was insufficient. It now appears that the rise from $80,500 is a leading wedge pattern. Under the overarching theme of a large wave 4 correction, this leading wedge is highly likely to be wave a, therefore the current correction shouldn't exceed the $93,100-$83,800 range. The current correction is approaching the 0.382 Fibonacci retracement level, and there's a possibility it's ending. Meanwhile, $89,000-$90,000 is a relatively strong support level. The market's target for the next month's rise is $103,500-$112,500. The process is still likely to be very volatile.