As we said before, we finished our 5 wave of 3th wave around 8.9-9.2K. Now, we are in a retracement to 8.6-8.7 level in a 1/1 extension of A-C in an ABC fourth correction wave. After that, i assume we face 5th wave with a roof at 10K, although there's a great probability of getting a trunkated 5th wave, because of a big resistance from 9.5 to 10k.
After that, I expect to look for a big correction wave to 8.2 level, where is lot of support.
If BTC can achieve this targets and bounce at 8.2 level, BTC is ready to beat big resistance trend from 22 DEC with strenght and go direct to 13K in a big bull trend.
Only my opinion.
My targets now:
- 8.6-8.7 level
- 10K
- 8.2-8.3
- 13K
As you see, i used 4h pattern because i wanted to review the big picture and take a logic and sense view of the patterns and waves, because ot of people ar seeing this 3th wave as a very short length, thing which has no sense...
After that, I expect to look for a big correction wave to 8.2 level, where is lot of support.
If BTC can achieve this targets and bounce at 8.2 level, BTC is ready to beat big resistance trend from 22 DEC with strenght and go direct to 13K in a big bull trend.
Only my opinion.
My targets now:
- 8.6-8.7 level
- 10K
- 8.2-8.3
- 13K
As you see, i used 4h pattern because i wanted to review the big picture and take a logic and sense view of the patterns and waves, because ot of people ar seeing this 3th wave as a very short length, thing which has no sense...
Note
My mistake.... is 30 minuts because in last minute I change it to search for little details, but everything is done at 4h chart.Trade closed: target reached
OK, target reached in a nice ABC correction. Seems BTC is ready for its last wave before bigger correction. This wave is going to be hard to predict, so much resistance levels, great probability of get a trunk wave, double top or whatever.
So in order of probability to be in my opinion:
1. Complete wave, reaching 10K
2. Trunkated wave in 9.5-9.7 level
3. Double top at 9.15 (if is this option, is bad for the bulls, reveals so much resistance and could end in a failure next impulse wave...).
Note
I am going to change long and target 9.5 to be conservative...Note
OK. Corrective 4th wave down to 0.618 fib level. I predicted to not go further than 0.5 fib level, and i was wrong in that way.But, reviewing my analysis, first wave retraced a little, so 4th wave makes sense to retrace to 0.618, and begin the 5th wave from there.
But, if goes further, it shouldn't be more than to 8.2-8.4 where is a strong support, if BTC goes down further than this level (which i can't see), i will asume i am tottally wrong and i will reckon about my analysis...
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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.