Bitcoin on fire and more to come! Target 11.6k
Updated
Main target 11.6k, short term target: 9.7k
The 9.7k target is a fibb resistance in combination of a wedge (yellow lines)
i think this is the end of the road for main wave 3 and we will enter a corective wave back to 8.5k
the 8.5k target is supported by a fibb line aswell if target 9.7k is met the 0.38 retracement would fit as a good support based on older tops and supports,
this rectracement however can be less or more downwards, this will fully depend on how bullish people still are after hitting the 9.7k top
worst case scenario it will retrace back to the major resistance we broke (dotted purple line) but this would be very unlikely
after it founds it support i do expect a pull all the way to 11.6k wich is again a major fib from 20k top to 6k bottom
and in the past we been hitting that 11.6k often as support aswell as resistance from our last double top in march.
11.6k target mid to end may, if we fail to break we can expect atleast 2 to 3k retrace
the green wave 1 to 5 is on a bigger scale wave 1 out of 5 upwards.
long term i am very bullish based on what indicators and wave tells me, fibb points tend to stack in a zone between 28k and 34k for this bull run.
happy trading and enjoy your beautyfull spring!
The 9.7k target is a fibb resistance in combination of a wedge (yellow lines)
i think this is the end of the road for main wave 3 and we will enter a corective wave back to 8.5k
the 8.5k target is supported by a fibb line aswell if target 9.7k is met the 0.38 retracement would fit as a good support based on older tops and supports,
this rectracement however can be less or more downwards, this will fully depend on how bullish people still are after hitting the 9.7k top
worst case scenario it will retrace back to the major resistance we broke (dotted purple line) but this would be very unlikely
after it founds it support i do expect a pull all the way to 11.6k wich is again a major fib from 20k top to 6k bottom
and in the past we been hitting that 11.6k often as support aswell as resistance from our last double top in march.
11.6k target mid to end may, if we fail to break we can expect atleast 2 to 3k retrace
the green wave 1 to 5 is on a bigger scale wave 1 out of 5 upwards.
long term i am very bullish based on what indicators and wave tells me, fibb points tend to stack in a zone between 28k and 34k for this bull run.
happy trading and enjoy your beautyfull spring!
Note
just a note chek out my previous 2 idea's and how i predicted the end of a bear market before it started! ;)Note
just a side node: due the sentiment, a break above the wedge will cuase a stronger bullish sentiment, and may deny the 9.7k resistance in this case we can see a extended subwave 5 (blue wave) to proberly 10k and retrace from thereNote
good morning everyone, everything is still expected to go as it gos, however the blue subwave has been extended to the sub target of 9.7k wich leads me to think we can likely see a small double top forming, this would support the theory of having a bigger drop down to 8.5k or we could see wave 5 to the spychical 10k , if that is the case the fibb points are changing aswell and we could see a bottom at 8.8k/9k ;)Note
and guys make sure to follow me! ;)Note
here is a closer look of whats going on right now, after we hit the 9.7k and the finish of wave 5 we have to see a healthy correction it will be as an abc waveas for right now wave a and b are now done if btc tends to follow the waves correcly we will see now the c wave coming in, my main target will be 8.5k for this pull down but there is a possibility it will find enough support at 8.8k, keep a close eye on that zone marked in yellow
when this abc pattern is over we are likely to see the next big move up to 11.7k,
happy trading peeps ;)
Note
target 8.5k is still in play olmos there ;) Note
hello there here with another quick update: right now btc decided not to hit my zone of 8.5k but took a bottom 100 points above, wich believe me we may see a bigger abc pattern then anticipated (the grey abc )this supports the sub wave counts of the curent waves as it doesnt seem to fit the smaller abc wave, so my target in this case would be the 8.2k zone as the end of c wave, if btc keeps rising up from this point then the original abc wave will still be valid, keep a close eye on the zone between 9.1k and 9.4k for a potential drop back
Note
main wave 1 to 2 will possibly extended so wave 3 will either start from the 8.7k or the 8.2k zone where subwave c ends, my prediction is still to 11.6k for the next wave wich will be wave 3 ;)Note
Note
right now we made a lower high @ 9.4k wich tells me the chanses of being in a bigger abc correction move is likely, so there are 2 scenarios at play right now both have multiple indicators supporting this theory, scenario 1 is that we will find support in the grey areas counting as wave 2 (blue elliot waves) and we continue to move up, second scenario is that we will either make a double bottom at 8675 or move back to the 8.5k zone, however historical shows that we tend to retest major resistances in the past, in this case there is a possibility to retest this at the 8.2k zone, all scenarios are still pointing to the 11.6k target, happy trading! ;)
Note
Hello again, with another update to our 11.6k road, right now i still think we are in a bigger abc wave downwards to 8.7k for a double bottom or in the 8.2 to 8.5k zone as a second zone, the confirmation can be found that we are making higher lows, and the rsi isnt hitting above 60, that tends to be bearish on the hrly, however we seen some great movements in btc the past hrs in both directions, its interesting to see how long this abc pattern is taking its time, the sentiment is positive and dibs are being bought up again pretty quickly, so overal sentiment is still positive, but technicly speaking we need to finish this abc pattern one way or the other Note
hey there with another update, btc broke the triangle as expected upwards the goal to 11.6k is getting closer, but before we think of 11.6k i think i have to say that 10k will be a big resistance but either way its also a spychological milestone, for now rsi is pretty high and we most likely will be entering another episode of consolidation between 9.5k and 9.8k 
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