BTC 5th and Last wave down started - 3-3-5 wave-4 Flat complete
My main count for wave-4 of this large impulse wave down is that of a 3-3-5 Flat Correction.
My alternate count is that of a 3-3-3-3-3- Symmetrical Triangle.
I'll set downside targets after more confirmation.
(Alt Count)
My alternate count is that of a 3-3-3-3-3- Symmetrical Triangle.
I'll set downside targets after more confirmation.
(Alt Count)
Comment:
If Bitcoin holds here for the while without breaking down further, I'll assume this to be the small B-wave correction I've been looking out for today, and price could resume to 7k.
If not and it breaks down further, I'll assume that wave-5 down has just started.
Please note that since earlier yesterday, I've updated my main count to that of the 3-3-3-3-3 Symmetrical triangle, after observing recent price movement.
If not and it breaks down further, I'll assume that wave-5 down has just started.
Please note that since earlier yesterday, I've updated my main count to that of the 3-3-3-3-3 Symmetrical triangle, after observing recent price movement.
Comment:
What happened with #Bitcoin?
As I mentioned in a recent post, we were at a confluence of major (months old) support and resistance lines, thus causing the sluggish, indecisive movement lately.
I posted this chart before getting to sleep, and bought at this dip.
Expected price to hit 7k, but planned to hold (which I still am) in case it breaks upward.
Approaching an apex, the price could potentially break in either direction.
Not wanting to give an "It can go Up or Down" TA position, I posted the scenario I felt was most likely, as we did not properly complete a 5th wave down.
I should probably be more neutral in the future at such major apexes/indecision points.
We did however complete the Symmetrical Triangle I maintained we were in since days ago.
Only to break out upward in the direction I was less expecting (but yes, symm triangles can break in either direction)
I am quite confident that if $BTC didn't receive that massive sudden buy volume pump, it would have fallen to ~6k.
Came in just in time before the fall.
As for next BTC target/plans,
Bitcoin appears to be making a Bull Flag at this time.
Around the current price to this range "7700 - 7400" seems a good area to ladder buys.
We could hit/cross 8k again today.
As I mentioned in a recent post, we were at a confluence of major (months old) support and resistance lines, thus causing the sluggish, indecisive movement lately.
I posted this chart before getting to sleep, and bought at this dip.
Expected price to hit 7k, but planned to hold (which I still am) in case it breaks upward.
Approaching an apex, the price could potentially break in either direction.
Not wanting to give an "It can go Up or Down" TA position, I posted the scenario I felt was most likely, as we did not properly complete a 5th wave down.
I should probably be more neutral in the future at such major apexes/indecision points.
We did however complete the Symmetrical Triangle I maintained we were in since days ago.
Only to break out upward in the direction I was less expecting (but yes, symm triangles can break in either direction)
I am quite confident that if $BTC didn't receive that massive sudden buy volume pump, it would have fallen to ~6k.
Came in just in time before the fall.
As for next BTC target/plans,
Bitcoin appears to be making a Bull Flag at this time.
Around the current price to this range "7700 - 7400" seems a good area to ladder buys.
We could hit/cross 8k again today.
Comment:
I am looking to exit BTC and Altcoin positions soon.
Looking (hoping) for another potential small push from BTC, which should drive prices into my sell orders.
As mentioned in previous tweet, I bought on the dip last night as I was expecting it. Didn't expect such a huge surge.
Looking (hoping) for another potential small push from BTC, which should drive prices into my sell orders.
As mentioned in previous tweet, I bought on the dip last night as I was expecting it. Didn't expect such a huge surge.
BTC could touch 6900-7000 first.
Otherwise, I'll consider that we are still on another wave up of a wave-4 Symmetrical Triangle.