BitcoinUpdated BTCUSD : fresh scenario. What to watch
Hi guys,
To follow up my others post where i stated that 4.3k was an interesting zone.
A rule of EWT is Wave C is typically at least as large as wave A and often extends to 1.618 times wave A or beyond
Scenario A is base on the 1.618. You can see in the original post that i mesured the C at 1.618 which gives us a stop where we are (which indeed stopped at 1.618)
The 5 impulses waves that makes C waves would be then this :
Giving us the rebound here :
______________________
Scenario B involve that the count of C is more like that
Final count :
__________________
To follow up my others post where i stated that 4.3k was an interesting zone.
A rule of EWT is Wave C is typically at least as large as wave A and often extends to 1.618 times wave A or beyond
Scenario A is base on the 1.618. You can see in the original post that i mesured the C at 1.618 which gives us a stop where we are (which indeed stopped at 1.618)
The 5 impulses waves that makes C waves would be then this :
Giving us the rebound here :
______________________
Scenario B involve that the count of C is more like that
Final count :
__________________
Trade active
Scenario B in the zone : Trade active
4H is so deep that even if 4H MACD keep climbing every negative histogram gonna reuslt in a dip. Overall I think that 3k gonna the bottom for now. We should see a recovery the 3rd Déc. as CME BTC futures start and It correlate with nice price entry for long position if we see 3k.We might see some green momentum at the end of the week. For now, 4H is so deep that It doesnt satisfy me to enter for now.
Note
the fifth sems too short. So i will stay on the side for now. Wave 1 and 3 are equal on the fibo perspective so im waiting for the wave 5 to get to the same extension as wave 1 and 3. We have a nice support there also :Trade active
CME BTC futures end the 30th of Nov. which normally big whale re-bought their short margin to pay the settlement for the current month. Next month they will borrow USD to short or long which is probably more a long position they will adopt.CME BTC futures started the 17 déc. when BTC started to drop. CME BTC futures are close in january, they re-open the first Monday of Feb. Thats when BTC jumped from 6k to 12k.
Trade closed: target reached
last update target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.