Hi BTC lovers;
It has been a while that i was working on btc charts to find possible bottoming scenarios. There are a lot of voices around about different bottom calls like 4k, 3k and even 1k. To be honest, technically all of them are possible. And i did not took any of them off the table since i got such strong signals on oscillators. I am currently studying on a wave theory which based on Elliot's wave theory but more complex and improved version of it. And it tells me the bottom should be close too. And the good news is we should be going to 50k next year if we bottom even a penny above 4.979,90 usd for bitstamp price. I know it sounds weird but in my count it is the most likely target.
So how are we going to trade in this environment:
1st of all do not try to catch the bottom even if this analysis is correct. There will be many good opportunities to join after the clear confirmation. My plan strongly suggest we should close this week a little above 6k.
So weekly close above 6k is our first confirmation. We might test the lows one more time after the weekly close if there will not be fomo. This is where i prefer to join.
I do not trust to support/resistance style of trading but here are the levels if you care: 6850 - 7500 - 8500 - 10.000
In my point of view all of these levels are irrelevant except 10k.
Long live BTC
It has been a while that i was working on btc charts to find possible bottoming scenarios. There are a lot of voices around about different bottom calls like 4k, 3k and even 1k. To be honest, technically all of them are possible. And i did not took any of them off the table since i got such strong signals on oscillators. I am currently studying on a wave theory which based on Elliot's wave theory but more complex and improved version of it. And it tells me the bottom should be close too. And the good news is we should be going to 50k next year if we bottom even a penny above 4.979,90 usd for bitstamp price. I know it sounds weird but in my count it is the most likely target.
So how are we going to trade in this environment:
1st of all do not try to catch the bottom even if this analysis is correct. There will be many good opportunities to join after the clear confirmation. My plan strongly suggest we should close this week a little above 6k.
So weekly close above 6k is our first confirmation. We might test the lows one more time after the weekly close if there will not be fomo. This is where i prefer to join.
I do not trust to support/resistance style of trading but here are the levels if you care: 6850 - 7500 - 8500 - 10.000
In my point of view all of these levels are irrelevant except 10k.
Long live BTC