In this scenario I developed the possible trend of the price through supports and resistances through a pulse wave. The impulse represents the conclusion of the main elliot cycle in section 5.
After 10.5k usd, I expect a flat retracement (ABD). From which I would expect after a short horizon phase a new impetus towards 14 / 20k.
Obviously it is a simulation of a bullish scenario, between consolidated supports and resistance.
However, I believe it is more likely than in a bearish scenario.
After 10.5k usd, I expect a flat retracement (ABD). From which I would expect after a short horizon phase a new impetus towards 14 / 20k.
Obviously it is a simulation of a bullish scenario, between consolidated supports and resistance.
However, I believe it is more likely than in a bearish scenario.
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Point 2 - Checked Trade active
Probable retracement on point twoTrade active
Retracement on point twoTrade active
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Check point.. Note
It is difficult to determine the direction of the trend at the moment. In all ways it seems that waves 2 is complete. Let's wait some more checks ..Note
At a glance it seems that our bitcoin does not want to know about falling below 9k USD. There is a horizontal movement tending to the upside and according to the sequence of Elliott's waves an upward exit could be probable.However, there is no trade on the weekend and everything is less clear. Anyway there have been no sales grains and the sequence should include a pulse section after the last correction. The question is: - Who has the courage to enter now? Wait for some more signal, maybe it's the best choice ..
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Thinking about 9,9kTrade active
For me it is a bull scenario in accumulation and we are close to an epilogue. Many are thinking of a short but I remain of my idea. The picture is positive and I hope the whales will arrive soon. If then retrace below it means that I will be wrong.
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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.