BITCOIN IS THIS BOTTOM OR JUST STARTING At the outset, I would like to inform you that I have been a big fan of the wave theory in the last five years, but in science there are no feelings and biases, as well as in markets, and also the theory has not reached the limit of idealism and some critics say that it did not reach the limits of theory, it is only a hypothesis and It has been going on for such a long time because of its many possibilities. anyway , this discussion will be as simple as possible and easy for the public to understand, even non-specialists, and from them I will present some scenarios that I see as possible to happen on the Bitcoin chart.
# The first scenario:
Have we finished the FLAT and are heading to ATH ???!!!!
I wish if the answer to this question was clear and certain , this perception takes the third place out of four, and the reason for this is the downward wave from the top of 69 to the current levels not clear five wave .
Well, according to this scenario, the end of the correction is expected at the 23k, from which we start a new bull market (remember this scenario takes the third place among the possibilities)
The second scenario:
It is a rare but possible pattern, like what happened in the Dow Jones Index in 1966, which is the expanding triangle
In the wave principle, there are four triangular patterns(Without counting the irregular top) , and the below chart shows the expanding pattern, and it may develop and change into a second type of the family of triangles. One must be careful that the triangle is one of the most difficult patterns to anticipate early, and its volatility is very high.
There may be some intellectual fanaticism on the part of some wave analyzers regarding the internal structure of waves. they assert that they be from the zigzag family, and this condition is not true
The third and fourth scenarios:
They are the most important and most likely, which is that the wave from 69 to the current price is the first corrective wave of the model and it is formed with a 3 waves structure that is very satisfactory to the rules and guidelines, anyway, the main reason for my preference for this scenario is to study time cycles (note that time cycles are more scientific and have been worked on a lot), so since we are in the A wave of the structure and this wave was 3 waves , so the possibilities will be limited to that the pattern It evolves and takes a flat or develops and takes a triangular shape and the balance tends to the triangular model due to the economic and global conditions
I know that this perception of the next movement is boring and takes the sideway character (and sorry, but your Lamborghini will be delayed this time ) and the correction may end in the first quarter of 2024, but remember the markets are not devoid of opportunities
Well, what do we gain after all this talk showing charts ??
It is very simple and here lies the strength of the wave theory, so that all the mentioned scenarios agree in the upcoming movement, which is the rise to the levels of 48-50 thousand. This wave at least gives twice the profit without using the leverage, and what do you expect to happen to the rest of the alt coins in this rally : )
I wanted to post some mysterious Fibonacci sequences for Fibonacci fans but it might take a lot of time
Anyway, a little advice from me
Life is more beautiful than the trading markets, do not be addicted to the price movement and lose the most valuable thing you have (your time) I wish luck to everyone
My greetings
Btc-usdt
BTC/USD#BTCUSD
Since May 10, Bitcoin has been accumulating. However, the breakdown will happen soon. One of the best investment tools in deflation, which will have an upward trend similar to 2008, is Bitcoin. Fibo GP is expected after the closing of the GAP after exiting the offer box. Although a gravestone doji per week is a sign of decline, let's see what it shows next week since we hit the bottom. Although having a gravestone doji per week is a sign of decline, let's see what it shows next week, since we are at the bottom.
*Please share your opinion on it, write in the comments. Dont forget some cheers bravo. "
Teşekkürler.
BTC - DO WE TOUCH 20K?BTC hold 30k in monthly time frame which is very important but one of the reason the market is slow growing is that the market is still in fear and most folks probably waiting for 20k or so to buy and the volume is quite low but my conclusion is that it is very unlikely we touch 20k.
From this point, 31k, we can go lower or range like 28 or maybe 26k but I dont think 20k would happen.
BTC Volatility 01 June 2022 BTC Volatility 01 June 2022
The current percentile of BTC is around 2.74th
Based on this, we can expect that the market is going to be below the daily volatility, which is around 3.86%,
which at the same time translates in an aproximate +-1200$ movement
For this we can assume close to 80% probability of efficiency based on the last years data.
Based on this our channel for today is going to be, assuming the opening price is 31780
TOP 31780 + 1213 ~= 33000
BOT 31780 - 1213 ~= 30550
At the same for those that are looking for entry points in case they want to go long/shortwe can make use of next data:
Based on the last years, we can expect that the asset is going to move more than 1.14% which translates into a +- 357$ movements.
And this comes with a 70% probability based on the last years.
TOP 31780 + 357 ~= 32150 => as an entry point for long where we can use the opening price as a stop loss
BOT 31780 - 357 ~= 31420 => as an entry point for short where we can use the opening price as a stop loss
Trade idea BTC/USDTBTC-USDT LONG TRADE 4H
Approach 1: Buy support
1. I would like to see the price go towards the first area of interest zone.
2. If this price hits the first level I will be looking at is the 32.000 level. I might want to scale out depending on the current price action.
3. Second TP will be at the 34.000 level, here I would consider completing the trade or letting a small % run the trend.
Approach 2: Breakout trade
1. Price breaks above resistance of 32.000 level with enough volume and according to price action (e.g. bullish engulfing)
2. This will then be an RR:2 trade. TP at approx 5% profit and SL at approx 2.5% loss.
Hey you! Yes you! I hope you like my approach to this chart, If you like the idea make sure to like this post it would help me a lot!
is there something I left out and you think is essential for this chart? let me know in the comments