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HurricaneCapital
Aug 19, 2022 11:49 AM

BTCUSDT: The big collapse began? 

Bitcoin / U.S. dollarBitstamp

Description

Hello, everyone.

The cryptocurrency market prices has started to collapse.
BTC price also has all chances to slide into the abyss, if the big 5 wave scenario will be realised in the next few days.

In general, if we talk about the possible end levels of decline, it is worth considering the possibility of panic sales, that may subsequently lead to a decrease in the price of BTC to the flesh of $11,000 and lower.

I do not like that the price did not reach the channel border in wave 4 on the logarithmic scale, so I continue to considers the scenario with the price stopping at $19,500 and a sharp rise above $25,000 too.

In the current situation I recommend to trade very carefully, as it is very difficult to predict the future behavior of the BTC price.
Comments
ProjectSyndicate
proper TA with great summary I like it
Solldy
Genius! Not the most standard analysis, but for this asset it describes well the scenario of its movement.
Agnus888Dei
great analysis!
Agnus888Dei
do your idea on this posting trying to say we still have one more going up before the real last dump to complete main wave 5 around 14-16 k BTC?
HurricaneCapital
@ATZwig, Yes, that's what I meant. However, this one will turn out to be true if price forms a reversal pattern around 19k-20k.
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