Nilles
Short

BTC 30% drop incoming if we fail to break

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
BTC just completed the 5th wave. Looking at the previous ABC corrections we could expect a ~30% drop to point A. This will happen fast if we fail to break the current levels. I'm placing buy orders throughout this area to catch the ride up to wave B. If we break $9000 the 5th wave extends, at that point we can relocate the A correction, but a 30% drop from that point seems the right thing.

Let me know what you think!
Comment: Seems like we’re approaching “C”. I’m waiting for a bounce confirmation until I hop into wave “B”. Don’t be greedy :-)
Comment: Ehm “C” should be “A” ofc.
Comment: Okay, my 5th wave should have been the 3rd, but then again it was just to point out a 30% correction was coming on a failed break attempt. Now watch the ABC correction play out.
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Okay, my 5th wave should have been the 3rd, but then again it was just to point out a 30% correction was coming on a failed break attempt. Now watch the ABC correction play out.
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I like, makes sense to see some decent pull back after strong rallies
Good job
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Nilles mysticmasta
@mysticmasta, thanks!
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Thanks for sharing. Nice chart.
+1 Reply
Nilles alanmasters
@alanmasters, thanks!
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