Bitcoin will pump more after a correction!
Hello, my dear friends!
As you know yesterday I changed my mind from bearish to bullish for the upcoming weeks. The reason was bullish reversal squat (MFI indicator state) bars on 4h and 1D time frames with the nice angulation with the Williams Alligator indicator. I expect last pumping wave 5 which should consists of 5 Elliott waves also.
Let's take a look at the
BTC price chart to understand what is happening on the local picture. Here is the 30 min time frame which I consider to be appropriate to analyze current pump. Bitcoin price in my opinion is finishing the first impulsive wave. Looking at the Awesome Oscillator we can notice that it has the greatest value at the top of wave 3 inside this wave 1. Now AO crossed the zero line which is the minimal requirement for the wave 4 finishing.
When BTC price will set the new higher high I am going to search for the bearish reversal bar at the very top, in perfect this bar should have squat Market Facilitation Index state also. In addition we should check the angle between this bar and the Williams Alligator. \
After finishing this impulse BTCUSDT have to show us the reactive wave 2. I suppose it's gonna have the shape of classical zigzag ABC. The original target for the wave 2 is the 0.5 - 0.618 Fibonacci retracement levels, which is now located next to $25800. I suppose there is gonna be the nice buying opportunities to ride on the wave 3 - the most impulsive one.
Best regards, Ivan
_____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
As you know yesterday I changed my mind from bearish to bullish for the upcoming weeks. The reason was bullish reversal squat (MFI indicator state) bars on 4h and 1D time frames with the nice angulation with the Williams Alligator indicator. I expect last pumping wave 5 which should consists of 5 Elliott waves also.
Let's take a look at the
BTC price chart to understand what is happening on the local picture. Here is the 30 min time frame which I consider to be appropriate to analyze current pump. Bitcoin price in my opinion is finishing the first impulsive wave. Looking at the Awesome Oscillator we can notice that it has the greatest value at the top of wave 3 inside this wave 1. Now AO crossed the zero line which is the minimal requirement for the wave 4 finishing. When BTC price will set the new higher high I am going to search for the bearish reversal bar at the very top, in perfect this bar should have squat Market Facilitation Index state also. In addition we should check the angle between this bar and the Williams Alligator. \
After finishing this impulse BTCUSDT have to show us the reactive wave 2. I suppose it's gonna have the shape of classical zigzag ABC. The original target for the wave 2 is the 0.5 - 0.618 Fibonacci retracement levels, which is now located next to $25800. I suppose there is gonna be the nice buying opportunities to ride on the wave 3 - the most impulsive one.
Best regards, Ivan
_____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
Get access to private PineScript strategies and turn script alerts into orders at your exchange account with easy-to-set up bots
Get free alert bot:
skyrexio.com
Get free alert bot:
skyrexio.com
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.