Wave 2 completed, now BULLISH / Upward move for a Wave 3 run!
Following my CORRECT analysis last month here:
BTC has now completed a Wave 2 and has now started a wave 3 run upward !
Although many believe BTC is now on it's way down, due to the Announcement in China regarding bitcoin, fortunately, the panic is all hype and no substance, as inexperienced traders have sold their coins due to China FAKE NEWS !!! this was a totally predictable correction, only deeper than expected due to inexperienced traders panic selling !
See here: twitter.com/maxkeise...s/906239266262589441
Wave 3 is now in progress and price action has broken structure and is on it's way up again, going LONG, with several deep retracements along the way.
TDI shows precise upwards progress, where the RSI indicator currently at midband at the time of writing, however is on it's way up from the 40.0000 zone, which means it has just come out of previous oversold status !!!
Mustard has crossed with Ketchup EMAs and we can expect them to cross with the MAYO and WATER EMAs for another confirmation of bullish trend.
Price action has now just crossed the Mustard and Ketchup EMAs (5 and 13 EMAs) and after a likely retracement should see a significant push upwards from here on in.
Blueberry EMA has not been crossed, it was however pinned by price action, which is another indication of more upwards move on the higher time frames.
Major support trendlines has not been broken, the Purple Line has also been pinned however the RED trendline has not been breached either.
Support areas have not been breached and the Flip Zone has proven once again to be holding price action as well.
In my opinion, all indications are now GREEN for another upward LONG (Bullish) run for BTC, my calc shows up to around the $5,800 price range, gonna enjoy seeing the price increase in any case. However I do feel sorry for all of the inexperienced amateur traders that sold their BTC based on FAKE NEWS... such a pitty.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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Although many believe BTC is now on it's way down, due to the Announcement in China regarding bitcoin, fortunately, the panic is all hype and no substance, as inexperienced traders have sold their coins due to China FAKE NEWS !!! this was a totally predictable correction, only deeper than expected due to inexperienced traders panic selling !
See here: twitter.com/maxkeise...s/906239266262589441
Wave 3 is now in progress and price action has broken structure and is on it's way up again, going LONG, with several deep retracements along the way.
TDI shows precise upwards progress, where the RSI indicator currently at midband at the time of writing, however is on it's way up from the 40.0000 zone, which means it has just come out of previous oversold status !!!
Mustard has crossed with Ketchup EMAs and we can expect them to cross with the MAYO and WATER EMAs for another confirmation of bullish trend.
Price action has now just crossed the Mustard and Ketchup EMAs (5 and 13 EMAs) and after a likely retracement should see a significant push upwards from here on in.
Blueberry EMA has not been crossed, it was however pinned by price action, which is another indication of more upwards move on the higher time frames.
Major support trendlines has not been broken, the Purple Line has also been pinned however the RED trendline has not been breached either.
Support areas have not been breached and the Flip Zone has proven once again to be holding price action as well.
In my opinion, all indications are now GREEN for another upward LONG (Bullish) run for BTC, my calc shows up to around the $5,800 price range, gonna enjoy seeing the price increase in any case. However I do feel sorry for all of the inexperienced amateur traders that sold their BTC based on FAKE NEWS... such a pitty.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP! :::::.....
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Comment:
UPDATE
Comment:
It seems BTC is now in progress of forming a Triangle as the Correction/Consolidation move, then we should see an upward move following it.
Comment:
UPDATE - CURRENTLY PROCEEDING AS FORECAST
