Long

BITCOIN 👨‍🚀 Pit Stop Before Moonshot? 🚀

Updated

Could this historical uptrend line be the pit stop before a moonshot???
For long term HODLers, $10,200-ish is still a great price to accumulate since it is the median (fair price) for Bitcoin in the macro view!

Note

Don't get too Bearish just yet, a bounce above $10,000 could propel us to $12,000.
♟ This game is a wave of possibilities, with Fibonacci ratios revealing probabilities. 🎲

Note

A more advanced trader of Elliott Wave Theory pointed out that I calculated the waves incorrectly in my previous post. 😅 This update reflects the rules of the game. 🚨 If you keep buying at the top and selling at the bottom... this explains why! (It also applies to stocks, buying homes, starting businesses, etc... as human behavior moves in economic cycles.)

⬆️WAVE 1: Impulsive
Whales 🐳 with institutional money
buy the price up when news is bad.

👇WAVE 2: Corrective
Whales 🐳 test levels to
confirm Supply is exhausted.

⬆️WAVE 3: Impulsive
Sharks 🦈 who are traders see
the trend change and new flips positive.

👇WAVE 4: Corrective
Sharks 🦈take profits and look
to re-enter at cheaper price in
anticipation of larger profits
in Wave 5.

⬆️WAVE 5: Impulsive
Fish 🐠 who take the bait of
extremely positive news go all in.

💡(After that, Whales and Sharks
exit the market. 🐳🦈💨💨💨)

Note

Bitcoin dominance rising, while Altcoin Market Cap declining... shows that traders are no longer taking risks... BUT don't want to lose their Bitcoin position. Yes, looks like we are going into a correction as the parabolic line broke and price is testing Fib Retracement 0.382 ratio at $9750. This line may not hold as "Mainstream" indicators are all bearish.

ChartCinema

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