AB=CD pattern is still underway. The second leg is half way through but if there is completion of this pattern then Bitcoin might loose half of its value now to 12500. Well lets hope this doesn't happen and the value bounces back from 38,2% fib level or if it falls from here then the next support is at 23.06 percent level that would also reduced the value to 18500. Lets keep an eye and see what happens in the days coming ahead. Also do share your ideas in comments. Cheers!
When are traders going to learn to stop calling bottoms on a manipulated asset? BTC will go as low as the powers want it to regardless of what the charts read, what you want, what the FIB says, and the 200 SMA can kiss it too cause none of that matters in the end. Just two weeks ago I had someone call me a doom and gloom cause I said we were going down hard. Now look. He's surely hoping I don't write back now. I'll never call a bottom or a peak but I can def call a direction all day. Bounce, retest, confirmation. Learn to get those 3 things right and you will never have to worry about predicting a bottom or peak. It will be revealed to you on the spot as it happens. Those signals will always be there and they will be genuine, as they are not generated by whales but by us traders who trade closely to whales.
Muneeb567
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@cryptospawn I would say good strategy overall and thanks for the advice. Obviously defining peaks and bottoms sometimes works and sometimes not.
emilianoww
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People thinking that Btc will go under 20k are delusional
Muneeb567
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well yes its nearly half of its value of what it was one and half months ago. How much lower it could go from here 😉
CipherCrypter
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@Muneeb567, 16k is the minimum, it will not cross this number.
Ben_vouh
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@emilianoww oh dude, wait til November and you will see where we are..
cryptospawn
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@Ben_vouh, that's a scary thought right there. And he scarier the thought the more I love it. If that chart plays out as shown it would fit me like a glove.🤞 Slide BTC slide...
Muneeb567
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@Ben_vouh Well that's a great way to put it like that.