Bitcoin (and other cryptos) made a nice spike up since the potential bottom in December.
This move might be the first of a potential big rally.
Right now we can count a big wave up followed by an ABC move down where wave C is an Ending Diagonal.
This suggests price should go higher from here.
Notice also that Bitcoin is inversely correlated to stocks and a Sell off might imminent.
If that's the case and stocks start to fall, we should see cryptos take off.
This move might be the first of a potential big rally.
Right now we can count a big wave up followed by an ABC move down where wave C is an Ending Diagonal.
This suggests price should go higher from here.
Notice also that Bitcoin is inversely correlated to stocks and a Sell off might imminent.
If that's the case and stocks start to fall, we should see cryptos take off.
Note
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Note
We got a nice spike up. Now looking for 3800. Before any significant pullback. Note
Alright, we broke the upper channel line.Things start to look good for cryptos.
Note
Note
The sunday's sharp decline suggests a three wave (abc) correction. If we see a sharp move above 4120, bulls will have their way. Note
Note
Getting ready to go up again Note
Hidden Divergence building on 4H suggests more upside is coming. I expect one more push lower first.
If price goes above 3770 we will see price go up.
And with it, as always, other coins will follow.
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Don't forget to like, share and follow !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public
Thanks !
Related publications
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.