So, Bitcoin has been validating the final tuning rhythms in Bitcoin's H4 waveform and producing a complex waveform correction in this time frame. How do you feel?
We - TradePlus team - have been feeling very excited because the market will have the most favorable trading session in October 2018.
We analyze the angles from the and the related aspects:
According to our observation, the correction wave of Bitcoin was formed on December 17, 2017, Bitcoin has made a peak at $ 20,000 on Bitfinex and began to reverse down continuously until today. As in previous reports, we have discounted this area into 3 cycles:
- Cycle 1: Selling off when investors sell off: This zone is extended until February 6, 2015, with a bottom set at $ 6,000. We call this a profitable area.
- Cycle 2: Resale in the short run: After a 70% decline, Bitcoin quickly rebounds in less than a month, peaking at $ 11700 and officially confirming the downtrend. We call this area Fomo with high confidence.
- Cycle 3: Drops in doubtful trading - Contradictory area: The price range diminishes over time from 06.2.2018 to 24.6.2018, and even today. The trading range in the cycle is very short, the profit is low with the 61.8%, complicated and unpredictable movements lead to panic between buy and sell of investors. We call this period of trading hesitant in the trading mentality of the trader, also known as the gloomy trading area.
Today we would like to propose a new derivative cycle:
In our view, the correction cycle on D of Bitcoin has not ended, which means that the downward trend is still dominant, which is reflected clearly through the candle discount in their trading sessions. Bitcoin also deserves to be the eldest in the Crypto market as each of its movements has caused the market to fluctuate sharply.
We anticipate that Bitcoin will have a one-month short-term rebound from this week to the end of October, with a revised 29.10.2018 turnaround.
We anticipate that Bitcoin will now go through the final drop in this H4, and finish at $ 6345.5 at Bitfinex. Specific developments:
1. Medium-term growth from $ 5345.5 to $ 9082.3: From the week to the end of October, the trading order recommends:
EP: 6345.5 $
TP: 9082.3 $
At this stage the market will be excited again, good news released many. We also believe that the Crypto market will rise sharply in the same way as our forecasts. We decided to invest in Crypto this period, especially the large potential technology deals.
2. Long-term reduction by wave D to area $ 3170.4. Our period begins in November 2018 and ends in March 2019. We believe that the market has strong fluctuations, FUD takes place continuously, investors panic. Ending the wave, investors took profit continuously, pushing the price of Bitcoin falling on the short term 61.8%.
The $ 9000 price range is a very sensitive area, and after profit taking we will closely watch and place Stoploss there. And if that's true, we will return to market in early 2019 with a trading order:
EP: 3170 $
After this cycle, we believe that Bitcoin will soon return to the market and grow at its best and turn our $ 35,000 target into reality by 2020. We're all waiting!
The above is our viewpoint trading, you note all the subjective analysis from the writer, be wise and self-trading investors, do not forget stoploss and consider protection account. Do not forget the feeback with us on the transaction results. Please like and share if you like. Wish you good health and successful transactions!
Vietnam, October 2. 2018
Team Trade +
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