Bitcoin Wave4 Correction in progress ready for breakout LONG
Bitcoin is proceding nicely LONG continuing upwards trend towards the $6,100 area.
Once the 'ABC' correction initiates, we could see significant pullback towards a flip zone. Depending on whether another fork will occur in November or not, will most likely determine whether or not price action will pentrate the flip zone dropping down to another deep retracement around the $3,000 zone or if it continues upwards to the $8,000 zone. However in my opinion, another buy opportunity exists once the completion of wave 4 has been completed before the LONG price action continues for wave 5.
TDI currently shows sharkfin and blood in the water, suggesting additional moves down for wave 4 before another move upwards for wave 5. All Ketchup, mustard, water and mayo EMAs are all below the price action and pointing upwards, indicating current upwards trend still in play.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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Once the 'ABC' correction initiates, we could see significant pullback towards a flip zone. Depending on whether another fork will occur in November or not, will most likely determine whether or not price action will pentrate the flip zone dropping down to another deep retracement around the $3,000 zone or if it continues upwards to the $8,000 zone. However in my opinion, another buy opportunity exists once the completion of wave 4 has been completed before the LONG price action continues for wave 5.
TDI currently shows sharkfin and blood in the water, suggesting additional moves down for wave 4 before another move upwards for wave 5. All Ketchup, mustard, water and mayo EMAs are all below the price action and pointing upwards, indicating current upwards trend still in play.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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