Yuriy_Kuznetsov

BTC/USD sale from 29650

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi everyone! According to my last idea I came to a conclusion that growth will end at the level of about 30000. All technical indicators are ready to a turn. Amounts decrease saying that growth fades. Therefore sale from 29650 with the first purpose at the level of 0.382 according to Fibonacci that corresponds to the previous high. After achievement of this purpose it will be possible to speak about the further movement.

So,

Sale on = 29650
TP1 = 19950
SL = 30800


Information provided is only educational and should not be used to take action in the market.
Comment: I wait for the last movement up. Decrease is farther.
Comment: Continuation in the new idea

Comments

date for decrease?
Reply
Yuriy_Kuznetsov relevantBear44887
@relevantBear44887, Thanks for your question. More or less precisely it is possible to define date of any movement at the created graphic figure. In our case all existing trend lines and channels were broken what I wrote in svoyoy to the previous idea about. The bitcoin broke all possible records and never before cost so much. Therefore no resistance exist now. For this reason I decided to investigate this schedule according to Elliott. Now on the chart we observe this spike the termination of which always difficult to tell about time. In such time everyone wants to remain until the end of euphoric growth and not to climb up from a spike. But when it comes to an end, correction is considerable too and it is important. Any attempts to give exact date will have the minimum accuracy who would not make this analysis. Especially it concerns corrections which have different formations. Here, for example, time analysis according to Fibonacci. As you can see, the price already should is in a new wave of decrease, and it does not occur.


If someone is able to define date about which you ask, and it will be then true, let me about it know. Once again thanks for a question!
Reply
Many set as the purpose of growth 32.
Reply
@MINIKOOPER, Yes, I saw. In the market everything is possible. But I think that it is necessary to be guided by Fibonacci's expansion in this case. And if the price leaves above the purpose designated on the chart, then growth should be much more considerable.
Reply
MINIKOOPER Yuriy_Kuznetsov
@Yuriy_Kuznetsov, thanks for the answer!
Reply
Thanks for your work! Very probable scenario!
Reply
@MINIKOOPER, Thanks!
Reply
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