Today we have something like Black Thursday on crypto market. But what's next?
My last few ideas we're incorrect due to invalid count of the uptrend move. Yesterday I was thinking about that "something is going wrong" but ofc I couldn't imagine so huge move intraday, wow. I tried to recount downtrend move from 13k to current prices and what i have to show you:
Starting from the summer of 2019 there is WXYXZ correction in wave (2). This Type of correction is very hard to identify and predict. It can be sometimes sideways and sometimes very sharp. As I can identify - We are in the last move before reversal. Btc has made a, b and now it in the end of c of Y. Possible price targets 5400-5100.
Also there is a level for 38 fibo. Btc should hold this level. If we will go outside of the channel - that's like we will move deeper, there will be impulse invalidation and then new global low...But I don't think its gonna happen.
My last few ideas we're incorrect due to invalid count of the uptrend move. Yesterday I was thinking about that "something is going wrong" but ofc I couldn't imagine so huge move intraday, wow. I tried to recount downtrend move from 13k to current prices and what i have to show you:
Starting from the summer of 2019 there is WXYXZ correction in wave (2). This Type of correction is very hard to identify and predict. It can be sometimes sideways and sometimes very sharp. As I can identify - We are in the last move before reversal. Btc has made a, b and now it in the end of c of Y. Possible price targets 5400-5100.
Also there is a level for 38 fibo. Btc should hold this level. If we will go outside of the channel - that's like we will move deeper, there will be impulse invalidation and then new global low...But I don't think its gonna happen.
Comment:
Example of previous capitulation