P_S_trade

BTC. I am waiting for the end of the fall at $ 4750.

BITFINEX:BTCUSD   Bitcoin
After a long consolidation, which began in late 2018, sellers were able to break the triangle down. The sharp drop was due to the fact that:
1) Stop-loss of buyers and their positions began to close at the market price
2) sellers after a long systematic closing of marginal positions began to actively open them:
After the start of the fall, the buyers initially closed their positions, and then began to increase x as well:
Now the price is approaching the bottom of the wedge trendline, in which btc is traded from March 2018.
However, I think that after the consolidation, which lasted for 3 months, it is possible to break this wedge down. Moreover, if we analyze horizontal volumes, at $ 5550 there is not much liquidity to stop the fall, but a rebound is possible.
My global target is $ 4750. If my wave analysis is correct, then the price is $ 4750 global C = 0.5A:
And the wave c = 0.618a:
Also, in this price zone there is enough liquidity to stop the fall and start growth.
The first target of $ 7500 growth (correction of 0.618 from the global wave C). And then I will analyze it as the script is worked out.
Of course, I will wait for confirmation of this analysis by volumes, since without them we will again be in long consolidations, as before the present fall.

🎁 -10% on ALL trading fees OKX
www.okx.com/join/10pstrade

🔥V-I-P cutt.ly/PwkLhT56

👍Crypto activities and free💲 cutt.ly/0w9VqL2X

💰Trade here + take Bonuses linktr.ee/ps_trade

🔵Telegram t.me/pstrade_eng
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.