Trader_ph

BTCUSD Breakout STRONG, 51% upmove coming, and where it will end

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello fellow traders! In the last post, I spotted a Symmetric Triangle Breakout. I said there that for confirmed breakout we need to break the MA 75 which was strong resistance. Well, I am happy to say it's broken! Yes!

We also have something: a 51% up move is coming(from the 30.2k low). Why so, you ask? Well, here are the key reasons:

1. ✅The last price up move from $27k to the All-Time-High 42k was a 51% move.
From bottom to top, 51%! This can give us chances of the 51% move actually happening.

2. ✅Current Breakout is strong and confirmed
What is confirmed? The tough former MA 75 resistance has been breached by the bulls! More info about this in my previous post. We also have a sudden volume uptick, signifying the bull participation.

3.✅Correction Beforehand Complete
Do you still remember the scary days(for the bulls) when Bitcoin crashed from 42k to 32k? That was just a 3-wave Elliott correction. With the Symmetric Triangle(as described in previous posts) formed after that, it gave us the confidence of a possible bull trend (and it's here already).

That is why the 51% move is coming. Yes, it is coming! Now, what happens after the huge move? Will price consolidate? Will price dive underwater? Don't worry. We can look back at history...

Here are some key points that can help us decide:

1. 👍We can notice that EXACTLY every 7 days, the vertical lines in the diagram call a peak and the start of a pullback.

2. 👍After the vertical lines have called a peak, the price tumbles to the big green dashed line, every time. (the chart doesn't show all the lines)

3.👍Numbers 1 and 2 have been consistent for very long, thus correct. We can make an accurate analysis.

Based on this interesting cycle, we can predict that in 3 days(as of this writing), we will get a top, then a pullback to the big green dashed line in the chart.

Just a warning here: Bitcoin is really volatile, and the price noise may give you doubt. But don't be scared! Noise is noise, and that is it.

Thanks for reading! Press that like button and follow for more detailed analysis like these. Thanks again! Cheers!



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