Bitcoin - the most bullish scenario (but I DON'T BELIEVE)
Hello, everyone!
Some of you, probably think that I hate Bitcoin with my super bearish view, but it's not the truth. I want new bull market may be more that everybody🤑. Globally until the
BTCUSDT has not broken through the $32800, I am bearish, but even in this case I found the scenario where we can see another one leg up.
Earlier I considered 1D time frame, when predicted the wave 5 top at
31K, but using 2D time frame is can be reasonable to see the wave 5 right now. Let's take a look at the chart where I marked the anticipated waves counting. I don't like that wave 3 in this case has the lower Awesome Oscillator value than wave 1, but the distance which wave 3 went is longer than wave's 1.
The dump from31K could be interpreted as a corrective wave 4. This wave reached exactly the 0.38-0.5 Fibonacci retracement area, the natural wave's 4 target. Moreover BTC has formed the bullish confirmed reversal bar which is another one argument for the bullish scenario.
What is next? As I told you in my last analysis I expect the huge dump from $27800, but if Bitcoin price is able to break the $28500 validation level I will be sure that current bullish rally is not over yet.
Best regards, Ivan
_____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
Some of you, probably think that I hate Bitcoin with my super bearish view, but it's not the truth. I want new bull market may be more that everybody🤑. Globally until the
BTCUSDT has not broken through the $32800, I am bearish, but even in this case I found the scenario where we can see another one leg up.Earlier I considered 1D time frame, when predicted the wave 5 top at
31K, but using 2D time frame is can be reasonable to see the wave 5 right now. Let's take a look at the chart where I marked the anticipated waves counting. I don't like that wave 3 in this case has the lower Awesome Oscillator value than wave 1, but the distance which wave 3 went is longer than wave's 1. The dump from
31K could be interpreted as a corrective wave 4. This wave reached exactly the 0.38-0.5 Fibonacci retracement area, the natural wave's 4 target. Moreover BTC has formed the bullish confirmed reversal bar which is another one argument for the bullish scenario. What is next? As I told you in my last analysis I expect the huge dump from $27800, but if Bitcoin price is able to break the $28500 validation level I will be sure that current bullish rally is not over yet.
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.