BitcoinLong
Bitcoin Golden cross and beginning of wave 3
Updated
Hey guys welcome for a fresh crypto update
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so first talking about the Golden cross, last time in April 2019 after a Golden cross Bitcoin's prices grew by more than 175% in just 2 months
this time we have another Golden cross on 18th of feb and the very first target should be 13800 or the previous highs
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the upper red line you see is the long term resistance trendline coming all the way from Dec 2017, connecting highs 20k and 13800
and you see that now we are getting so closer to break this trendline and start to move higher
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Meanwhile bears succeed to halt this rally exactly at FIB618 or 103xx zone, so this will be the very first key level bulls need to break
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Talking about the Elliot wave formation so you can clearly see that we have completed higher degree 1st and 2nd wave formation and now we have stepped in the larger and major wave 3, generally wave 3 has impulsive nature which goes parabolic with very small and short correction that gives very few buying opportunities to bulls, so make sure to not miss any dip or opportunity.
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I think previous highs of 13800 will be the very first target, bulls will take bitcoin to much higher levels, as you can see that current wave 2 (10500-9300) is very short wave which indicates that next wave 3 will be highly impulsive according to Elliot's rule of alteration and major support 1 at 95xx has beautifully hold the prices, incase if prices dips a lil more than still major support at 91xx will hold the bears but below this bulls will loose control
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so honestly i dont think prices will go below 9100, but cant say about scam wicks so will follow weekly and daily closes to confirm
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That's all for now, Thanks for reading...
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this is Husain Zabir, signing out
Thankyou...
--------------------------------------------------------
A request from all of you to please like and follow our Hard work to keep encouraging us, there's no fee for likes and followings :)
--------------------------------------------------------
so first talking about the Golden cross, last time in April 2019 after a Golden cross Bitcoin's prices grew by more than 175% in just 2 months
this time we have another Golden cross on 18th of feb and the very first target should be 13800 or the previous highs
--------------------------------------------------------
the upper red line you see is the long term resistance trendline coming all the way from Dec 2017, connecting highs 20k and 13800
and you see that now we are getting so closer to break this trendline and start to move higher
--------------------------------------------------------
Meanwhile bears succeed to halt this rally exactly at FIB618 or 103xx zone, so this will be the very first key level bulls need to break
--------------------------------------------------------
Talking about the Elliot wave formation so you can clearly see that we have completed higher degree 1st and 2nd wave formation and now we have stepped in the larger and major wave 3, generally wave 3 has impulsive nature which goes parabolic with very small and short correction that gives very few buying opportunities to bulls, so make sure to not miss any dip or opportunity.
--------------------------------------------------------
I think previous highs of 13800 will be the very first target, bulls will take bitcoin to much higher levels, as you can see that current wave 2 (10500-9300) is very short wave which indicates that next wave 3 will be highly impulsive according to Elliot's rule of alteration and major support 1 at 95xx has beautifully hold the prices, incase if prices dips a lil more than still major support at 91xx will hold the bears but below this bulls will loose control
--------------------------------------------------------
so honestly i dont think prices will go below 9100, but cant say about scam wicks so will follow weekly and daily closes to confirm
--------------------------------------------------------
That's all for now, Thanks for reading...
--------------------------------------------------------
this is Husain Zabir, signing out
Thankyou...
Trade active
Check the quick BTCUSD update for short term
Trade active
Perfectly breakout above
9700 as I expected, get prepare
to move higher
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