Welcome for another grand update on Bitcoin part of THE BEAR MARKET CONTINUES PART X.
The main change from the last part is the creation of a new All time high. On the chart, we see a double bearish divergence that has never formed on a weekly chart. At the same time the price tested 161.8% wave (a). Also note the declining weekly volumes. This convinces me more and more that wave (b) has been completed. Now is the golden time for short.
On RSI you see a red horizontal line at 53.34. She was a support throughout the bull run in 2016-2017. Whenever the price fell below WMA 21, the RSI also fell below the red line.
Hidden GAP is a zone that the price just flew through and never tested.
This is a projection of Expanded or Irregular FLAT. In this correction, wave (b) must not return more than 161.8% of wave (a). That is still fulfilled. Wave (c) should return at least 138.2% of wave (b) (FINAL TARGET). The potential bottom is located at the bottom trend line of the growth channel.
I'm looking forward to your hate.
Good luck bulls.
Final Target = 1010.44 USD
Potential bottom = 964.11 USD
Hidden GAP 1319.47 - 1814.76 USD
Right Fibonacci Retracement wave (b)
Left Fibonacci Retracement wave (a)
Notice where the target is.
The main change from the last part is the creation of a new All time high. On the chart, we see a double bearish divergence that has never formed on a weekly chart. At the same time the price tested 161.8% wave (a). Also note the declining weekly volumes. This convinces me more and more that wave (b) has been completed. Now is the golden time for short.
On RSI you see a red horizontal line at 53.34. She was a support throughout the bull run in 2016-2017. Whenever the price fell below WMA 21, the RSI also fell below the red line.
Hidden GAP is a zone that the price just flew through and never tested.
This is a projection of Expanded or Irregular FLAT. In this correction, wave (b) must not return more than 161.8% of wave (a). That is still fulfilled. Wave (c) should return at least 138.2% of wave (b) (FINAL TARGET). The potential bottom is located at the bottom trend line of the growth channel.
I'm looking forward to your hate.
Good luck bulls.
Final Target = 1010.44 USD
Potential bottom = 964.11 USD
Hidden GAP 1319.47 - 1814.76 USD
Right Fibonacci Retracement wave (b)
Left Fibonacci Retracement wave (a)
Notice where the target is.