BitcoinUpdated Pt3. The beginning of last 5 wave up to previous highs.
Hi!
After some turbulent uncertain times followed by the ill-timed ETF rejection news, we are most certainly back on track.
- Bitcoin made a fast and solid recovery, that at first seemed to be much harder as volume was declining and bounce was nowhere to be found.
- The new wave count indicates a first wave up and forming 2nd down.
- We can expect a bigger pole than the first wave up for the 3rd wave
- Key point is that Bitcoin holds this upper part of the previous ascending channel to make its way up the even steeper channel to 5th wave completion.
- Bullish pennant looks nice
Bullish all around, but would be stupid not to prepare for a bull trap as the market makes what it wants. Be sharp, be safe!
All the best! -B
After some turbulent uncertain times followed by the ill-timed ETF rejection news, we are most certainly back on track.
- Bitcoin made a fast and solid recovery, that at first seemed to be much harder as volume was declining and bounce was nowhere to be found.
- The new wave count indicates a first wave up and forming 2nd down.
- We can expect a bigger pole than the first wave up for the 3rd wave
- Key point is that Bitcoin holds this upper part of the previous ascending channel to make its way up the even steeper channel to 5th wave completion.
- Bullish pennant looks nice
Bullish all around, but would be stupid not to prepare for a bull trap as the market makes what it wants. Be sharp, be safe!
All the best! -B
Note
Bullish pennant: Note
Corrected my wave count positioningNote
3 possible scenaarios1. Bullish pennant breaks to the upside with continuation and a retest (3rd wave high) @8500
2. Bear trap! Drops to channel bottom @800 ish, before bouncing furiously up.
3. Bear to Bear and down to heavy support@7600
Note
Sorry for the change in themes, I'll stick to the last one for now. Is it looking good for everyone? AND
Thank you for the support!! :) :)
Note
As I see it:Note
Note
could this be the bear trap, falling down just to trigger stop limits!? Interesting!Note
Pennant just got longerNote
Initial upwards breakout attempt ...Note
Bitcoin is setting up for the next break up from this ascending triangle/bull flag. It is getting really close now. Bitcoin is having some luck on the media side as well. Looks promising for a move up.Note
AND Bitcoin being Bitcoin. So the support for this tunnel is @ 7700. This might be a shake off. Note
So the last prediction happend now. we are testing that flag/channel bottom now. Hope it holds or we are up for a volatile disruption to this bull run.Note
Hmmm... Note
Part 4: 
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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.