Bitcoin end-cycle
Updated
Hello everyone,
After the elliot cycle we had a complex correction (simplified in my steemit).
- We completed an apparent (ABCDE) triangle formation (bullish);
- We touched one of the two major trendlines (precise to the smallest timeframes) before rebounding;
- We reached volumes comparable with the massive uptrend;
- Perfect inversion with a hammer pattern (would mean at least 12 days of growth);
- Weekly Stoch made a bullish crossover.
- Fibs matching perfectly.
- Trendline intact
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- There is bearish divergence showing already in the 4h chart, meaning there will be better opportunities to buy now;
- There is still massive pressure towards the orange channel;
- This upmove should be the 4th wave of the the 5th elliot wave correction (the last drop before lambo)
I was betting for a lower low (which might still come)
My stop-loss is at: $6.250 USD (to be raised if i can find a wave to count xd)
Profit target 1: (cloud resistance) $7.100 USD
After the elliot cycle we had a complex correction (simplified in my steemit).
- We completed an apparent (ABCDE) triangle formation (bullish);
- We touched one of the two major trendlines (precise to the smallest timeframes) before rebounding;
- We reached volumes comparable with the massive uptrend;
- Perfect inversion with a hammer pattern (would mean at least 12 days of growth);
- Weekly Stoch made a bullish crossover.
- Fibs matching perfectly.
- Trendline intact
------------------------
- There is bearish divergence showing already in the 4h chart, meaning there will be better opportunities to buy now;
- There is still massive pressure towards the orange channel;
- This upmove should be the 4th wave of the the 5th elliot wave correction (the last drop before lambo)
I was betting for a lower low (which might still come)
My stop-loss is at: $6.250 USD (to be raised if i can find a wave to count xd)
Profit target 1: (cloud resistance) $7.100 USD
Note
reaching cloud support, I bet on a bounce soon.
let us see how we will complete this triangle
Note
isn't this a pretty bullish sign? =)
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