How far can #BTCUSDT go?
Is the top close, before we see a bigger pull back?
Will We See Bitcoin Over $100k?
I think that at this moment, although we have great euphoria that we will very soon see a break above the magical $100k, at least according to some other indicators, we may see an all time high (ATH), but I think that after that we will see that bigger pull back.
https://www.tradingview.com/x/ZmU7Dxt4/
We have that before (I pointed 2 years ago) and even I give where can be bottom.
https://www.tradingview.com/x/EynHmsOH/
https://www.tradingview.com/x/jmYRgTZS/
If that happens, some will call it "fakeout" or "deviation", but I think it could just be an EXPANDING FLAT that often appears as a correction, very often as the fourth wave in the Elliott wave fraction.
https://www.tradingview.com/x/CTvg0Se1/
B wave, from ABC correction, as a rule, ends beyond the beginning of A wave (in this case it is ATH), 105% - 138% of wave A, while the target for C (the final leg of ABC) is 123.6% - 161.8% of wave AB.
Several indicators, if we see a new ATH soon, will create divergences (RSI, AO, etc.), which can usually be an indication of an exhausting movement.
Also for this idea I see a couple of harmonic patterns that make confluences for these targets. As I said, the price has not yet reached those areas, but this is something I will keep in mind if we see the new ATH soon.
https://www.tradingview.com/x/Gq0jotAw/
It is also interesting to see on the 1D time frame some harmonic patterns that were very important in certain moments.
I hope for everyone who wants to see Bitcoin over $100k soon, that this idea will not be correct.
In any case, time will tell if I am right and I will try to update as soon as I see some important changes.
Is the top close, before we see a bigger pull back?
Will We See Bitcoin Over $100k?
I think that at this moment, although we have great euphoria that we will very soon see a break above the magical $100k, at least according to some other indicators, we may see an all time high (ATH), but I think that after that we will see that bigger pull back.
https://www.tradingview.com/x/ZmU7Dxt4/
We have that before (I pointed 2 years ago) and even I give where can be bottom.
https://www.tradingview.com/x/EynHmsOH/
https://www.tradingview.com/x/jmYRgTZS/
If that happens, some will call it "fakeout" or "deviation", but I think it could just be an EXPANDING FLAT that often appears as a correction, very often as the fourth wave in the Elliott wave fraction.
https://www.tradingview.com/x/CTvg0Se1/
B wave, from ABC correction, as a rule, ends beyond the beginning of A wave (in this case it is ATH), 105% - 138% of wave A, while the target for C (the final leg of ABC) is 123.6% - 161.8% of wave AB.
Several indicators, if we see a new ATH soon, will create divergences (RSI, AO, etc.), which can usually be an indication of an exhausting movement.
Also for this idea I see a couple of harmonic patterns that make confluences for these targets. As I said, the price has not yet reached those areas, but this is something I will keep in mind if we see the new ATH soon.
https://www.tradingview.com/x/Gq0jotAw/
It is also interesting to see on the 1D time frame some harmonic patterns that were very important in certain moments.
I hope for everyone who wants to see Bitcoin over $100k soon, that this idea will not be correct.
In any case, time will tell if I am right and I will try to update as soon as I see some important changes.
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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.
Related publications
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.