BTC, Major Update ! Flat Correction Scenarios
BTC Shocked many analysts one more time ! What is the most possible scenarios now?
BTC proved 100 % today that those (including me) who expected a zigzag correction were completely wrong. But, this the nature of the market. Nobody can make 100 % accurate analysis and predictions.!
I see what is going on Bitcoin as a flat correction. There are three types of flat corrections : 1. regular 2. irregular and 3. Running
Regular flat correction is certainly rejected as we have a new ATH but both irregular and running are possible now and discussed below:
Right side of the chart
Irregular flat which is shown on the right side of the chart will push back the price down to below 28500 ! Is it really possible? Of course it is technically possible. Is it possible for BTC now? Of course possible but how much? I give very low chance for this scenario now but keep it in mind that every thing is possible in the market every time. Typical irregular flat correction target is 69000-74000 USD zone which is a strong resistance.
Left side of the chart:
Running flat correction will go much higher above former ATH typically up to 1.618 extension of last drop which is around 87000 USD for BTC now. If it goes there typical next correction of wave C is a decline down to previous ATH which is around 65000 USD.After that we have a new powerful motive wave which goes easily above 10000 USD. Less probable yet valid running flat scenario is to start correction after hitting 69000-74000 resistance target zone , a decline down to around 52000 and then starting a new motive wave up to above 10000 USD. Running flat correction scenarios is shown on the left side of the chart. I give more chance to typical running flat scenario now.
Hope this analysis to be useful for you my friends and wish you success in your trades
BTC proved 100 % today that those (including me) who expected a zigzag correction were completely wrong. But, this the nature of the market. Nobody can make 100 % accurate analysis and predictions.!
I see what is going on Bitcoin as a flat correction. There are three types of flat corrections : 1. regular 2. irregular and 3. Running
Regular flat correction is certainly rejected as we have a new ATH but both irregular and running are possible now and discussed below:
Right side of the chart
Irregular flat which is shown on the right side of the chart will push back the price down to below 28500 ! Is it really possible? Of course it is technically possible. Is it possible for BTC now? Of course possible but how much? I give very low chance for this scenario now but keep it in mind that every thing is possible in the market every time. Typical irregular flat correction target is 69000-74000 USD zone which is a strong resistance.
Left side of the chart:
Running flat correction will go much higher above former ATH typically up to 1.618 extension of last drop which is around 87000 USD for BTC now. If it goes there typical next correction of wave C is a decline down to previous ATH which is around 65000 USD.After that we have a new powerful motive wave which goes easily above 10000 USD. Less probable yet valid running flat scenario is to start correction after hitting 69000-74000 resistance target zone , a decline down to around 52000 and then starting a new motive wave up to above 10000 USD. Running flat correction scenarios is shown on the left side of the chart. I give more chance to typical running flat scenario now.
Hope this analysis to be useful for you my friends and wish you success in your trades
Comment:
It is reaching to our target and resistance zone. Lets follow and see what happens next.
Comment:
Irregular flat scenario is really terrifying ! lets hope for running flat !
Comment:
Take our suggested irregular flat correction scenario seriously.
