Bitcoin - DON'T pay attention to news. Waves are SUPERIOR!
Hello, my dear friends!
Yesterday I have predicted the local correction to $30200 and then pump to $31800 in wave 5. But now I think that all current move is still reactive wave 4 represented as the flat correction ABC. I think we will see the new higher high, but not that much as most of traders think. Let's try to understand what is happening right now with
BTC .
First of all I want to discuss a very important topic. As I can see in the comments some traders think that news is the price driver. I am sure, guys, that price chart is the predictor for the news. Looking at the Elliott waves we can anticipate if something bad or good is about to happen. Of course we cannot predict which event will happen (regulation, interest rate increase or somethink worse), but we can guess about bad this event is gonna happen or good. All these facts are applicable to only turning points on the charts, most of movements happen without any news. Usually we have fundamental support only in waves 3 and people think that price is rapidly pumping or dumping because of events, but these events were created to add liqudity to the market. I suppose, some of you will laugh on me, but I am not reading any news, all what we need is only quality analysis.
Now let's go to Bitcoin analysis. I think that now wave 4 has been ended, today's rapid dump was the wave C, which has collected the liquidity below the local low. I think that wave 5 is gonna be printed soon. The BTC target remains the same, approximately at $31800. There I am going to reconsider my analysis based on potential divergence, reversal bars and squats.
Best regards, Ivan
_____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
Yesterday I have predicted the local correction to $30200 and then pump to $31800 in wave 5. But now I think that all current move is still reactive wave 4 represented as the flat correction ABC. I think we will see the new higher high, but not that much as most of traders think. Let's try to understand what is happening right now with
BTC .First of all I want to discuss a very important topic. As I can see in the comments some traders think that news is the price driver. I am sure, guys, that price chart is the predictor for the news. Looking at the Elliott waves we can anticipate if something bad or good is about to happen. Of course we cannot predict which event will happen (regulation, interest rate increase or somethink worse), but we can guess about bad this event is gonna happen or good. All these facts are applicable to only turning points on the charts, most of movements happen without any news. Usually we have fundamental support only in waves 3 and people think that price is rapidly pumping or dumping because of events, but these events were created to add liqudity to the market. I suppose, some of you will laugh on me, but I am not reading any news, all what we need is only quality analysis.
Now let's go to Bitcoin analysis. I think that now wave 4 has been ended, today's rapid dump was the wave C, which has collected the liquidity below the local low. I think that wave 5 is gonna be printed soon. The BTC target remains the same, approximately at $31800. There I am going to reconsider my analysis based on potential divergence, reversal bars and squats.
Best regards, Ivan
_____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
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