Hello Guys and Girls,
i think Bitcoin cant reach new ATH at this Time, we have to go lower with a Elliot Wave ABC correction
The Volume Spike at point A is to Low in my opinion
I expect sellers coming on the plan at Point B, around 0.5 - 0.618 Fib Retracement Level.
My Target to Buy new BTC is at 40K at Point C, we also get Support there from the 200 Day Moving Averrage and the 21 Weekly Moving Averrage.
This zenario is out of Play if the Bull's can push the Price above 0.786 Fibonaci Retracement around 60,3k.
On the dowside i get carefully if we Brake 21 Weekly Moving Average with a Weekly Candle.
Best Regards, Stay Strong.
kingkurt
i think Bitcoin cant reach new ATH at this Time, we have to go lower with a Elliot Wave ABC correction
The Volume Spike at point A is to Low in my opinion
I expect sellers coming on the plan at Point B, around 0.5 - 0.618 Fib Retracement Level.
My Target to Buy new BTC is at 40K at Point C, we also get Support there from the 200 Day Moving Averrage and the 21 Weekly Moving Averrage.
This zenario is out of Play if the Bull's can push the Price above 0.786 Fibonaci Retracement around 60,3k.
On the dowside i get carefully if we Brake 21 Weekly Moving Average with a Weekly Candle.
Best Regards, Stay Strong.
kingkurt
Note
Point B at the 0.618 Fib retrace is reached, let's have a look what happen to the Bull's. Volume is steady decreasing, so the next Volume spike shoud tell us which direction we can expect from here.Note
We broke to the downside, but get a reaction at 45k with a good Volume Spike. probably forming a dragonfly doji today and cant reach the Target at low 40's.I set a buy position in the low area of point A at 47,1k, with half of the Position that i prefer for the 42k area.
Note
Target Area is reached, let's have a look what happend to the Price.Trade closed: stop reached
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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.