BTC wave C down to below $6750 before wave 5 up to ~$7500
The green box is a very small (0.3% range) and specific target. The target should be larger but I would like to track how accurate ends up being - provided I haven't called the end of wave B too early.
The green box sits on top of the confluent area of a 1:1 extension of wave (a) and the 0.5 retracement level of wave 3. I don't want to think about BTC going too much lower. The red dashed line is the wave 1 top at $6647. For BTC to build any convincing basis for bullishness it should not stray more than a little bit below that level (my preference is for no overlap). So, if we are seeing waves 1 and 2 forming in wave (c) I am expecting a further 4% drop to finish wave 4.
I had sold my very modest short-term holding of BTC near the wave 3 peak and will be looking to retake a position when wave (c) is finishing as long as BTC doesn't stray too much below $6647. If I can pull it off I will take all of my gains in wave 3 (~11%) and re-buy into wave 5 at 6% discount. It may not work as I have planned it - still I would rather take the risks myself and hopefully my ability to pick movement has developed enough in the last 8 months to be able to make it work.
Volume has picked up to the low to mid $4b over the last 4 days. Not great but better than the $3b range.
I am not a professional, financial adviser, or your Mum so please do your own research and protect those funds. Recently I saw a trading idea shared by a group that holds themselves out to be professionals. From the moment they posted calling further price increases in a FOREX pair, the price turned the other direction and crashed. Their comment "sorry lol."
Good luck everyone and thanks for everyone stopping by on my way to getting over 10k views.
My other recent posts on BTC price movement / targets ($7490+ / $8700+ / $10,500+) are still in play.
The green box sits on top of the confluent area of a 1:1 extension of wave (a) and the 0.5 retracement level of wave 3. I don't want to think about BTC going too much lower. The red dashed line is the wave 1 top at $6647. For BTC to build any convincing basis for bullishness it should not stray more than a little bit below that level (my preference is for no overlap). So, if we are seeing waves 1 and 2 forming in wave (c) I am expecting a further 4% drop to finish wave 4.
I had sold my very modest short-term holding of BTC near the wave 3 peak and will be looking to retake a position when wave (c) is finishing as long as BTC doesn't stray too much below $6647. If I can pull it off I will take all of my gains in wave 3 (~11%) and re-buy into wave 5 at 6% discount. It may not work as I have planned it - still I would rather take the risks myself and hopefully my ability to pick movement has developed enough in the last 8 months to be able to make it work.
Volume has picked up to the low to mid $4b over the last 4 days. Not great but better than the $3b range.
I am not a professional, financial adviser, or your Mum so please do your own research and protect those funds. Recently I saw a trading idea shared by a group that holds themselves out to be professionals. From the moment they posted calling further price increases in a FOREX pair, the price turned the other direction and crashed. Their comment "sorry lol."
Good luck everyone and thanks for everyone stopping by on my way to getting over 10k views.
My other recent posts on BTC price movement / targets ($7490+ / $8700+ / $10,500+) are still in play.
Trade active:
Apologies, the call was a bit early. Still it will happen soon. $6800 - $6750 would be a great buy zone.
Trade closed: stop reached:
Well it didn't quite get there. It just managed $7410
If that is the case, the red dashed line should still apply, although I am not sure yet if we will dip to that level as we are still over $600 above it.