Bitcoin is heading to 33k! (REACT FAST)
Updated
- We need to react to the recent price action of Bitcoin and switch from a bearish to a bullish perception, as Bitcoin is refusing to drop further and instead is building a very strong bullish base. A breakout above the bullish base is going to lead to a massive pump to 33k!
- I was bearish from 30k to 27k, but now I am bullish, and I am already long on several altcoins. I may add a long position on Bitcoin on the breakout of the base or on a pullback at ~26900.
- As traders, we need to react to price developments and alter our bias to successfully trade! Probably only a few understand this; if you do, congratulations.
- This should be the last pump because I am still expecting a significant crash to 21k to fill the unfilled CME gap. We are going to fill the gap soon or later, and this will be your opportunity to buy cheap Bitcoin!
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- If you shorted Bitcoin at around 30k, as I told you in the previous analysis, now's the time to take profit and potentially open a long position if you stick with Bitcoin.
- So why is Bitcoin going to hit 32k or 33k? It's the FIB extension (classic + LOG) measured from 15476 -> 31000 -> 25811. This gives us targets 31741 and 33656, and I think these targets are very reasonable because I am not expecting any extended fifth wave on the major scale.
- From the Elliott Wave perspective, Bitcoin has finished the ABC correction successfully. Wave B was a symmetrical triangle, and we need to be aware of triangles as they occur mainly in waves B and 4. Rarely, triangles also occur in wave 2 of impulse waves.
- Overall, buying Bitcoin at the current price for the long term is not worth it because, on the major scale, we are in wave 1 (if you are bullish) and wave 2 is going to send Bitcoin to 21k. As I said before, there is a CME gap and a huge untested triangle.
- I expect tremendous gains for the ARPA coin. You can find it in the related section down below!
- Thank you, and for more ideas, hit "Like" and "Follow"!
Note
The pump is going to happen, but as I said, I expect a big crash to 21k anyways later this year, so buying Bitcoin at this point is not worth it, but you can open a swing trade now at the retest of the bullish base!Note
It's the end of the month, and the monthly candle closes tomorrow. As you can see, the candle has a long wick, which can be interpreted as a rejection. The next month could be bullish, as per my analysis.
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