BitcoinLong
KING IS BACK!!! BITCOIN ON SURE TRAJECTORY TO 100K
As Bitcoin approaches the crest of its third wave, nearing the 100K mark, emotions surrounding the crypto king have been overwhelmingly positive. This sentiment is to be expected, especially given the current cycle and the position we find ourselves in.
The fourth wave was a bit cheeky since it has what we can call, an unorthodox bottom, given that the actual end of it was above the lowest point in the corrective pattern. Just one of the many tricky aspects that corrections use to fool the operators. I feel safe to take the low a52350 on September 8 as the official low for this wave.
From this point, we start to see a strong fifth wave carrying a lot of momentum. I have noticed before that, as in commodities and futures, many crypto tend to exhibit the most strength in the fifth and final wave instead of the third, having the farthest advance in its last hurrah.
I have two very likely termination points for this move depicted as the blue lines at 107,650 and 123,175, which are 1-3(100%) and 1-3(127%) respectively. We could see an even bigger travel but we we'll need to adjust for that as it may come.
For now safe to say that as with every surge that the king of crypto ever has had, it comes accompanied by all kinds of scams and pumps and dumps along the way. Most new crypto independent projects are scams as this community has turned mostly speculative rather than actually looking to add value to society. If you are to put money in crypto which I don't necessarily think is the best idea, I would still suggest to stick the to big staples that have shown to have reliable pools of liquidity, that although still subject to manipulation, in the very least it has had permanence and longevity.
Happy Trading and good luck. :)
The fourth wave was a bit cheeky since it has what we can call, an unorthodox bottom, given that the actual end of it was above the lowest point in the corrective pattern. Just one of the many tricky aspects that corrections use to fool the operators. I feel safe to take the low a52350 on September 8 as the official low for this wave.
From this point, we start to see a strong fifth wave carrying a lot of momentum. I have noticed before that, as in commodities and futures, many crypto tend to exhibit the most strength in the fifth and final wave instead of the third, having the farthest advance in its last hurrah.
I have two very likely termination points for this move depicted as the blue lines at 107,650 and 123,175, which are 1-3(100%) and 1-3(127%) respectively. We could see an even bigger travel but we we'll need to adjust for that as it may come.
For now safe to say that as with every surge that the king of crypto ever has had, it comes accompanied by all kinds of scams and pumps and dumps along the way. Most new crypto independent projects are scams as this community has turned mostly speculative rather than actually looking to add value to society. If you are to put money in crypto which I don't necessarily think is the best idea, I would still suggest to stick the to big staples that have shown to have reliable pools of liquidity, that although still subject to manipulation, in the very least it has had permanence and longevity.
Happy Trading and good luck. :)
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.