BITCOIN. WHAT CAN WE EXPECT THIS WEEK?
Updated
Hello traders, and welcome to this crypto corner, I hope you had a wonderful week.
from our last analysis, we expected btc to make a retracement from 10k region to the upside around 11k region, which we can see on the chart..
so, what's next for bitcoin?
last week if you can recall that after the wave 5 truncation, I started labelling a wxyxz correction. initially, I like to start my analysis with letters. then when the move is done, we can adjust the symbols.
what matters really is not the symbols, it's the direction of the market.
imo, I think we started a 5 wave impulsive move to the downside from mid august after the 12.5k huge resistance. I'll adjust the symbols once the move is complete
what do we expect now on bitcoin
we expect a move to the downside, a big one, you know I think things can go real south in coming weeks.
is 9k possible? Yes... oscourfe.....lol
is 8k possible? depends, if traditional market experience huge losses in coming weeks.
now, I'm sure you're about to ask is 7k or 6k possible? well maybe, maybe not. let's focus on the move to the downside, and I'll be updating you as we move
follow me, and let's take profit together.
VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of appreciating my effort and encouraging me to post more free analysis and updates.
if you enjoyed this free analysis and update, make sure to hit the follow button to get more free updates, like, share and drop your comments below, and I'll see you shortly
have a wonderful week trading,
safe trade
trade responsibly
namaste traders
from our last analysis, we expected btc to make a retracement from 10k region to the upside around 11k region, which we can see on the chart..
so, what's next for bitcoin?
last week if you can recall that after the wave 5 truncation, I started labelling a wxyxz correction. initially, I like to start my analysis with letters. then when the move is done, we can adjust the symbols.
what matters really is not the symbols, it's the direction of the market.
imo, I think we started a 5 wave impulsive move to the downside from mid august after the 12.5k huge resistance. I'll adjust the symbols once the move is complete
what do we expect now on bitcoin
we expect a move to the downside, a big one, you know I think things can go real south in coming weeks.
is 9k possible? Yes... oscourfe.....lol
is 8k possible? depends, if traditional market experience huge losses in coming weeks.
now, I'm sure you're about to ask is 7k or 6k possible? well maybe, maybe not. let's focus on the move to the downside, and I'll be updating you as we move
follow me, and let's take profit together.
VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of appreciating my effort and encouraging me to post more free analysis and updates.
if you enjoyed this free analysis and update, make sure to hit the follow button to get more free updates, like, share and drop your comments below, and I'll see you shortly
have a wonderful week trading,
safe trade
trade responsibly
namaste traders
Note
Comment: If you're yet to enter the short position, you can still enter after a slight pullback up. There's still room for more downside to around 9k Comments are welcome or you can send me a dm if you want more assistance.
Safe trade
Note
Check out the latest update on the 15mins chart to re enter a short position, if your positions are not yet active.
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.