So in the past few weeks, a couple of people have questioned whether this is a grand impulse wave down, annoyed by the fact that wave 4 would have to go into wave 1 territory. I've updated my chart to show an ABC correction after an impulse up to 19.9k. The outcome that is applicable over the next few weeks doesn't change much, as I have been saying. In an ABC...
Well, well, well .... just as I gave up on wave 4, here we are. At this point we've reached the all time high trend line and we are hitting a key Fib. Are we all wrong (oh yes, many have changed their tunes now after calling a 4k, 3k, 2k, 1k bottom). Wall street always wins, remember that. They want your money, so they do what's worst for you. Short you say, stay...
Well, interesting and confusing movements from BTC. Is this a grand setup for a bull trap, which will set off the final decent to sub 6k levels, or has grand wave 5 ended, and the confusion as sign that BTC has reached bottom, and a market reversal is fueling up? Scenario B assumes we are now forming wave 4, and the bull trap is being set. It was clear that...
Guys, I've decided to put Scenario B back on the table. Zooming into the data, I see we could be in wave B of a ABC correction. Others think this is about to turn into an extended wave 5, which is also possible. So it's possible that mini wave 4 is not complete. So to recap: SCENARIO A - assumes we are still in mini wave 3, and the rally of yesterday is just...
Hello gang. So a quick update. I think that drop has invalidated Scenario B, which took wave 4 to the All-Time-High Trend line 2. In the least, it's definitely hurt the probability of it going there. I've removed it from the graph, to simplify the TA. The scenario I've shown here are Scenario A ... this assumes that we are still in mini wave 3 of an impulse wave...
Just a quick updated guys. I'm plotting 3 scenarios: - Scenario A - WE ARE STILL IN WAVE 3. See points 3a, 4a, 5a (see continuation of pink mini-wave). This assumes we have not completed wave 3 and the current run up is just noise. This targets a 6k double bottom test to complete wave 3, up for wave 4, and then down for wave 5 to complete the mini-impulse wave...
Dont short btc when in bullmode, even chinese fake news cant stop the way to 5k (2nd try now) Hope you bought the dip!
BTC is riding on 2 trend lines recently it broke the first and i had buys placed waiting Same may happen this time if the area of 4172 place buys at 3755 for a good run back up in the long run it is still very bullish and we ARE gunna see 5K BTC this year without a doubt !!
Refer to my related ideas. We continue this rally and here is the next falling wedge on BTC, it wont hold long. After it the target is 3200 which will come soon enough! The next one is at 3500-3800 range. I advice to take profits at 3150 and 3450. Wish you all luck at these crazy days in crypto world!