BTC/USDT (1D) How Bad could it be ? (Worst case scenario)
Updated
Hi Traders and HODLers....
If you ask yourself how low could BTC Fall during this correction ? Well .. it all depends if you believe to EW counts and Fibonacci extensions.
This EW Count shows my expectation of FreeFall back down to 11K zone in case of A:C 1:1 Extension.
Right now Bitcoin is fighting for most iportant levels. If he fails. We could finish in a BEAR market for months (maybe year or 2 untill another Halving ?).
This is not investment advice, just my warning how bad it could be.
Even when I am very Bullish LONGTERM ... also You should always ask yourself if you risk only the money you will not need for such longtime ;)
Trade and invest safe, always consider risks.
If you ask yourself how low could BTC Fall during this correction ? Well .. it all depends if you believe to EW counts and Fibonacci extensions.
This EW Count shows my expectation of FreeFall back down to 11K zone in case of A:C 1:1 Extension.
Right now Bitcoin is fighting for most iportant levels. If he fails. We could finish in a BEAR market for months (maybe year or 2 untill another Halving ?).
This is not investment advice, just my warning how bad it could be.
Even when I am very Bullish LONGTERM ... also You should always ask yourself if you risk only the money you will not need for such longtime ;)
Trade and invest safe, always consider risks.
Note
Local Uptrend channel = Bear flag is broken down. Right now important level is around 35200. (Main channel)
If BTC break it down, we could see test of 33-30K zone again.
Note
Quick update, its quite difficult to count subways, so my best gues right now is something like this. when there will be chnace to do it more preciselly I will post update.
Note
Alternatie EW count. Liquidations and stop-losses below 29K support vere reached. (Huge liquidity fpor big shorters).
Now many people finally sold and turned bearish into shorts.
(new liquidity area is around 28-29K (top-losses for shorts of small players // retail).
Note
Quick update: Its Shorting time ... hopefully you can figure out how to trade this. ;)
Note
2H Timeframe: Notice how steep was wave (iii). Wave (v) should be milder.
My expectation now is around 18K as best scenario and 13(12)K as worst.
Lets wait and see together ;)
Note
Small but important levels ... Lets go BTC. Note
Note
Seems like BTC is falling like a Stone ... how much momentum does it still have ? 1W RSI is aproaching historic lows (even below 2018 correction).
So if we fall down further it could be very bad.
Also we are currently below EMA 200. so I consider a possibility of retrace up to 27K to test it.
What will than could describe screen on the next Update.
Note
Good morning guys, hopefully you are doing great ;)Keep calm and wait for DIP.
Note
No triangle, just ABC wedge... Patience folks ;)
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