Greetings traders!
Today we are analysing the bitcoin, where we can see (contrary to the overall trend) I can feel like we can be BULLISH on the BTC because we are entering the Z Wave of the WXYXZ.
The objectives are correct, and for me, I wouldn't see big crash incoming...YET
As you can tell:
Today we are analysing the bitcoin, where we can see (contrary to the overall trend) I can feel like we can be BULLISH on the BTC because we are entering the Z Wave of the WXYXZ.
The objectives are correct, and for me, I wouldn't see big crash incoming...YET
As you can tell:
- The first X wave retraced the 85,4% of the W.
- The Y wave extended to 100% of the W and X.
- The second X wave retraced the 76,4% of the Y.
We are now in the Z, and therefore, my strongest objectives would be the 100% and 123%. (maybe if really bullish we will go to 161%)
Hence:
- The 100% is at 50300, which is also the 50% of retracement for the downtrend from the end October
- The 123% is at 53300, which is also near the 61,8% of retracement for the downtrend from the end October
Comment:
OOPS