Tuesday update - The impulse is almost finished

Feel free to comment on this video, we are interested in what you guys think about it!

Please note that we are already invested in Bitcoin since the 15th of June, back then we announced our first positions here on tradingview.

Long Bitcoin ( BTCUSD )
AVERAGE EXECUTION PRICE: 20’714.20$
STOP-LOSS: NONE
LONGTERM TARET: +120’000$

Note

Bitcoin 8H (Bitfinex) - Primary count 1

Note

// THURSDAY UPDATE //

I want to make sure that I said it here again, a further expansion of wave (v) is ABSOLUTELY POSSIBLE. In order to sustain this bullish wave (5) alternative, bitcoin needs to massively retrace back above 25'000$ and from there on anything above 26K is possible.

Everything important is marked on the chart, feel free to ask questions if something may be unclear.

The market may have lost momentum and as of now it may look like we established the top of the big wave (i), but just keep in mind that especially in crypto, wave 5 impulses can expand drastically. The upcoming days should clear things up, and we will update you guys about this in time.

Personally, I wouldn't be surprised if the whole market could expand further, and therefore we won't close any positions in bitcoin or other cryptocurrencies.

Mendenmein-Capital

If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.

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Mendenmein-Capital

If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.

Also on: