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
Interesting idea, thank you very much. I am bearish, though.
ModTrades
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@Tradersweekly, Hey man, thank you for your answer! Yes indeed, there is a probability that we can go lower to reach other objectives, but just after those we will go uppp!
Tradersweekly
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@ModTrades, Thank you for the response. I am curious about what will happen once the meeting begins; I can not wait to see that.
ModTrades
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@Tradersweekly, Yess same! They are talking about to raise their benchmark rate by a half percentage point, something they never have done since 2000..! Big times ahead