BTCUSD
Hello, traders!
Here is my view on the Bitcoin pair.
At the moment and globally Bitcoin can move in three ways.
I want to share with you my calculations and vision - what can happen with certain scenarios!
Option 1: (ABC pattern)
From ATH in 2017 (19,891 USD), we traded Wave A down.
Then we traded Wave B up.
At the moment, we have already traded Wave C down.
If we build our assumptions based on option 1, then we are now in the first driving Wave of global growth.
Next will be the growth to the moon and so on.
Option 2: (ABC pattern )
From ATH in 2017 we traded Wave A down.
Then traded Wave B up.
At the moment, we are still in the Wave C ☝️
If we build our assumptions based on option 2, then we have not completed wave C down.
We can expect another downward movement in the calculated TA range of 5,450-3,450 USD.
This could likely be the bottom of Wave C and only then the growth to the moon will be possible😉
By the way, if we are still in Wave C - then some upward movement is still possible ☝️
Option 3: (ABCDE pattern)
From ATH in 2017 (19,891 USD), we traded Wave A down.
Then we traded Wave B up.
At the moment, we have already passed Wave C down.
And now something important!!!
If we are still in Wave D:
Perhaps we have already finished with Wave D or, as another quite probable scenario, upward growth is not yet done and is possible until the moment we brake the level of 13,764 USD.
This is the peak of Wave B (IMHO would look good in the range of 11,000-13,500 USD, not higher).
If a breakdown of the peak of Wave B occurs (13,764 USD), then option 3 will be cancelled because the classic rules of (ABCDE pattern) triangles say: each subsequent Wave in the (ABCDE pattern) model cannot go beyond the price boundaries of the previous Wave, and the last three Waves of the triangle must be shorter than the previous Wave.
My thoughts and conclusions:
Option 1 personally seems unlikely to me. This is because, in my opinion, we have not yet completed the technical picture at the bottom in the range of 5,450-3,450 USD and in this range there is a high probability that the price will go down.
According to my opinion and calculations, the choice now stands between the second and third scenarios.
Which one will be relevant - we will see in the near future.
In any case, globally and in my opinion, we can expect a correction to the 5,450-3,450 areas and it may have already begun.
However, I still think that option 3 with the triangle (ABCDE pattern) is still relevant, because, in my opinion, in this situation it would be a more technically correct movement of the chart, which has not been violated yet by TA.
In my opinion, one more shot up of the price would look good (to cut off SL and bulls) with a consequent dive down to 5,450-3,450 USD areas.
In that range, we can expect some price turbulence (sideways, accumulation) or, as a possible option, rapid growth from the bottoms (at the moment it is not possible to predict the exact structure of event development below, everything will be shown in the chart if the price falls within the indicated ranges).
And only then - fly to the moon. 😉
I’ll clarify again!
This is not a plan for daily trading 😉 - it’s my vision of the situation in whole, as I see the scenarios.
Be attentive! Peace and profits to all.
Important!
Once again for understanding, the wave structure, patterns, and graphic models tend to change or change the structure, therefore confirmation is important.
The author does not sell anything! He does not give signals to enter or exit a deal!
Does not take funds into management!
Does not educate others on a paid or free basis! Well and so on 😉
Remember!
Forecasts of financial markets are the private opinion of the author.
The current analysis is not a trading guide.
The author is not responsible for the results of work that may arise when using trading recommendations from the submitted reviews.
