A big blow may come. This is a warning.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
range of 6800-6900 $ is the critical point. I think the bears are playing games nowadays. There is a bearish divergence as you can see in the graph. To be sure We have to think that BTC will not go over the price line number 1 . If it rises above the price line number 1, the target is number 3, which is the range of 7900-8000 dollars. If we stay under line 1, target number 2.

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Graphic estimation for a short time. The chart will be updated.
Comment: May 6 shared

Comment: first target reached


This is a detail for Bitcoin and it is not wrong any thing from 10 days ago:
Bro, this is definitely Not a bearish divergence on neither RSI nor Stoch RSI.

dab1rd PainKillers756
@PainKillers756, lol this guy doesn't know how to read RSI. Yet his trade is going to be profitable when this drops. I have my reason that there is going to be a small correction because there is bearish divergence on smaller timeframes.
@dab1rd, but lower time frames the more fakeouts, Whales have been producing mixed noises since last week. To focus on 4H/1D time frames only, might help make better trading decisions. ; )
dab1rd PainKillers756
@PainKillers756, Imo it's unlikely that we break 6850 now. We need a healthy correction to only 6400-6300 would be good enough.
Yes 1D and 4H showed very bullish signs near the bottom. One of the reasons I went long on neo at 29 dollars and added to my shitcoin list for long term hold. But short term, a drop is due.
@dab1rd, let's see. bulls still have the momentum, or else Whales have not hit their target yet. Personally, I believe the price might hit 7200$ around with consistently volume contraction, when we have obvious divergence on 4H/1D with HH, it is a good timing to short with high leverage. ; )
dab1rd dab1rd
@dab1rd, ow messed up the link

@dab1rd, nice chart, thanks for sharing! imo pertaining to 4H RSI divergence we are having the moderate correction for now which generally means we will be having higher high soon. Moreover, I don't subscribe to the idea that wave counts rule the world ; ), but technically, wave 2 seems to have too much retracement from wave 1, doesn't it? wave 3 is supposed to have the highest gradient? H&S pattern is good, let's see how it plays out.
dab1rd PainKillers756
@PainKillers756, 2 can go as low as it wants, as long as it stays above the low of 1. However on some exchanges this 2 would retrace under wave 1 start area. Which is not possible, and you usually would have to recount.
Wave 3 is usually the longest and never the shortest.

I'm not a TA expert so take my count with a grain of salt. EW is just an extra tool for the toolbox.
But seriously, elliot wave is sometimes scary accurate at times.

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