Hi, guys! I'm back from vacation, and ready for new TA :)
This is a long-term prediction, so let's take a look at the daily chart:
BTC drew a triangle(white lines) and we are in the middle of the D wave. Despite some think that this is a wedge, it doesn't match several conditions to be it. I expect it to bounce from 7k and we should see a retracement to 8.9-9k after that. When wave E will be completed, we should test the spot where 1.68Fib and 4/1 Gann Fan crossing, which is around 5.2 - 5.5.
Of course, previous support levels(5.9-6.3) is important to keep an eye on, but I wouldn't go FOMO, but instead, I would observe how strong these levels will be bought. It's too dangerous to get in without confirmation because the measured target of current triangle is ridiculously low, and risk not worth reward. IF(!) for any reason it will get under 5300, next level should be around 3.5-4k where is the weekly Ichimoku. And in the and of all, the measured target of this triangle(I know how it sounds, but it is what it is) is $250-$300 per Bitcoin.
Traders, haters, hodlers, believers - all welcome to comment.
P.S.: I never made a time predictions before, but based on the TrendTimeFib, we should see 7k around May 26, 8.9k around June 14 and 5.5 around July 15-16.
So, stop to stare at the screen and enjoy the summer ;) BTC 2.09% will be boring in next couple of months
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
This is a long-term prediction, so let's take a look at the daily chart:
BTC drew a triangle(white lines) and we are in the middle of the D wave. Despite some think that this is a wedge, it doesn't match several conditions to be it. I expect it to bounce from 7k and we should see a retracement to 8.9-9k after that. When wave E will be completed, we should test the spot where 1.68Fib and 4/1 Gann Fan crossing, which is around 5.2 - 5.5.
Of course, previous support levels(5.9-6.3) is important to keep an eye on, but I wouldn't go FOMO, but instead, I would observe how strong these levels will be bought. It's too dangerous to get in without confirmation because the measured target of current triangle is ridiculously low, and risk not worth reward. IF(!) for any reason it will get under 5300, next level should be around 3.5-4k where is the weekly Ichimoku. And in the and of all, the measured target of this triangle(I know how it sounds, but it is what it is) is $250-$300 per Bitcoin.
Traders, haters, hodlers, believers - all welcome to comment.
P.S.: I never made a time predictions before, but based on the TrendTimeFib, we should see 7k around May 26, 8.9k around June 14 and 5.5 around July 15-16.
So, stop to stare at the screen and enjoy the summer ;) BTC 2.09% will be boring in next couple of months
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
Comment:
I love BTC! But this is not a religion. If you are "believer" and think that it will always go up - I have a bad news for you. One of the strongest skills of trader - sobriety and complete elimination of FOMO.
Comment:
Wave D is here. I'm in
Trade closed: target reached