kryptowavetrader
Short

BTC - Big DUMP before the PUMP!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello traders,

I'm seeing a lot of bullish charts on BTC while infact BTC has just been correcting for another big dump.
Bitcoin broke down from the C wave ending diagonal to low 6k ranges was the just the first impulse in 3 wave move down.
Currently BTC completed a 3 wave - ABC correction to make the X wave. Implying that we should get another move down.


This presents with a good shorting opportunity down to low 5k ranges.
Sep 16
Comment: Two possible scenarios. Either BTC starts breaking down from here or we do more complex correction similar to what I have drawn in red and then breakdown.
Breakdown is inevitable at this point.

Sep 17
Comment: BTC broke down as expected. Small bounce from here and then continuation of the downtrend.

Sep 18
Comment: Got an extension the C wave. It still is a correction to upside meaning the impulsive move will be down without any doubt.

Sep 19
Comment: The first leg down is complete and this whole correction is an expanded flat of larger degree. One more wave down to go before we see a short term reversal on bitcoin. It should take another 4-5days before we see the actual reversal.

Comments



Failed to hold stay in the .618 zone today (as seemed to be the most likely scenario anyways). so we definitely will be testing 6100 again. Something tells me we're not going to hang onto it for very long lol
+1 Reply
kryptowavetrader NickPadovani
@NickPadovani, Yes. I din't expect us to get even that high. I was thinking 0,382 at most but sentiment is still overly bullish not surprised great way to trap some longs. We are already starting to reverse looks like.
+1 Reply
NickPadovani kryptowavetrader
@kryptowavetrader, I've been weary since we break the resistance at 6380 honestly. There's zero reason we haven't taken a nasty dive to the mid 5k region yet. I expect we see a bottom around 5600 or so, but time will tell of course, and we let the ol' waves do the talking.
Reply
kryptowavetrader NickPadovani
@NickPadovani, agreed most people will turn bearish after the yearly low is taken out. for now I believe 5k region for hold atleast this time ;)
Reply
LOL DUDE NOT HAPPENING BITCOIN IS GOING TO SKYROCKET THE NEXT 7 DAYS!!!!!!!! up to 8500+ MINIMUM
+1 Reply
WealthHustler jordanmorin13
@jordanmorin13, lol your comment made me laugh. I too thought Bitcoin won't broke 12K & ETH won't break $800, what happened next is history.
+2 Reply
jordanmorin13 WealthHustler
@WealthHustler, lmaoooooooo just because you were wrong about it not breaking 12k doesn't mean that im wrong about it rallying this week learn some common sense things don't just go straight to the sky without strong corrections your prediction was idiotic and just ignorant you didn't know what the hell you were doing take the damn price its at now before you end up buying it back at 12k WHEN YOU FINALLY REALISE WE ARENT GOING LOWER
Reply
WealthHustler jordanmorin13
@jordanmorin13, sorry if I sounded arrogant. To be honest, this isn't a gambling thing where we expect 2x or 5x every year. It depends on Sentiments, Utility and actual use case in masses, we lack all three at the moment bro. anyways. I would feel much better if I am wrong. I'm a bitcoin bull too, but with practical outset understanding.
+1 Reply
jordanmorin13 WealthHustler
@WealthHustler, lol very good idea BUT YOU ARE WRONG GIVE IT LESS THEN 7 DAYS AND WE WILL SHOOT UP TO 7500+ LIKE BUTTER and shortly after that in the coming weeks we will SHOOT PAST 8500 LIKE IT WAS NOTHING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! GUARENTEED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Reply
WealthHustler jordanmorin13
@jordanmorin13, I would love that, because I'm HODL longterm!
Reply
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