Bitcoin is currently in trouble, and while my charts have leaned positive and bullish, you should know that I do NOT own BTC, and I haven't for almost a year now. For me, I remained bullish because I wasn't sure which degree wave 4 was in 'play'. I believe I have my answer. Those close to me, know that I have held this position since January 2018.
Many of you will look at this chart, and (maybe) wonder why wave 4 is overlapping into wave 1. And, the simple answer is, I am counting volume and accumulation points, which if we translate that to price, I am suggesting the wave 4 could hit sub $3500, which when we translate this to price, the wave 4 does NOT overlap into wave 1.
The first line of support should've held, but it didn't. So, it's either a "jab" below and price will jump back up over the line, or that line is now resistance, and Bitcoin's price continues lower to find deeper support as I'm suggesting.
Regards!
Many of you will look at this chart, and (maybe) wonder why wave 4 is overlapping into wave 1. And, the simple answer is, I am counting volume and accumulation points, which if we translate that to price, I am suggesting the wave 4 could hit sub $3500, which when we translate this to price, the wave 4 does NOT overlap into wave 1.
The first line of support should've held, but it didn't. So, it's either a "jab" below and price will jump back up over the line, or that line is now resistance, and Bitcoin's price continues lower to find deeper support as I'm suggesting.
Regards!