Update Idea We are in wave (c) supercycle
Today we witnessed an epic downfall.
Black Friday, the 13th, discounts up to 63 percent
BTC has broken the long-term trend line and WMA 200. We have to be careful where the weekly candle closes.
Chart is in balance, I therefore expect a strong retracement (wave II).
Wave I could be completed
Wave II (7200 USD) can test 0.618 fibonacci retracement from 10500 USD, there is a WMA 100, WMA 77, monthly resistance, weekly resistance
Wave III (2500 USD) weekly support
Wave IV (3800 USD) can test Wave I
Wave V (1650 USD) can close the GAP 1350 - 1830 USD
Today we witnessed an epic downfall.
Black Friday, the 13th, discounts up to 63 percent
BTC has broken the long-term trend line and WMA 200. We have to be careful where the weekly candle closes.
Chart is in balance, I therefore expect a strong retracement (wave II).
Wave I could be completed
Wave II (7200 USD) can test 0.618 fibonacci retracement from 10500 USD, there is a WMA 100, WMA 77, monthly resistance, weekly resistance
Wave III (2500 USD) weekly support
Wave IV (3800 USD) can test Wave I
Wave V (1650 USD) can close the GAP 1350 - 1830 USD
Comment:
Comment:
Buying opportunity, at RSI we see bullish divergence, we create wave II. It could reach 7200 USD. In the area it is also WMA 100 (4h MA 4200), WMA 77. And not to forget the WMA 200 at $ 5500. Fear & Greed Index - 9 alternative.me/crypt...ear-and-greed-index/
Comment:
Nice profit, wave 2 could be completed. Followed by wave 3 (capitulation), which could be somewhere at 2500-2200. It is about 65 to 70 percent crash from today's peak.
Comment:
Wave 2 is now probably completed. Peak 7139 USD was subwave 3 waves c. Now we are probably in wave III.
Change of FINAL TARGET 2 = 1427 USD (Wave V)
Comment:
GAP IS FILLED
Comment:
Waiting for response 50 day moving average
Comment:
On the chart is created rising wedge
At 2h chart form nice bearish divergence
BTC tested MA 50 Daily
Comment:
We could test a long-term trend line on a linear chart.
Comment:
The rising wedge bottom line has been broken.
Wave II was probably completed.
50 day moving average has been rejected.
Now we are probably on wave III and see an epic fall below 3000 USD.
Wave II was probably completed.
50 day moving average has been rejected.
Now we are probably on wave III and see an epic fall below 3000 USD.
Comment:
BTC is trying to get above the MA 50 Daily. It will be very important where to close this candle. If he closes above the MA 50, there is a chance that we will see the rally somewhere at 8000 where the MA 200 Daily is located. If we can't keep 7000, we'll probably see the epic crash below 3000.
Comment:
BTC closed the daily candle above MA 50. He's holding it, but there's MA 55 Daily right above us. I slightly adjusted the downtrend channel. Since the largest indices are reaching the target and ready to fall, crypto is likely to fall very soon.
Comment:
BTC is likely to complete the top line of the downtrend channel